The downward trend in sales growth at the beginning of 2015 offset the uptick posted in Q4, despite deflation of 3%. FY 2015 sales were down, impacted by decreasing fuel sales (12.6% to £3.1bn) and same stores sales underperformance (including a positive contribution of 1.0% from the online business), which offset the 0.6% growth from new space. Margins marked a deep decrease compared to 2014, with the underlying operating margin down by 110bp to 1.5%. Net income stood at £222m, c
11 Mar 2016
Waiting for growth; capital light
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Waiting for growth; capital light
- Published:
11 Mar 2016 -
Author:
Ranya GNABA -
Pages:
2
The downward trend in sales growth at the beginning of 2015 offset the uptick posted in Q4, despite deflation of 3%. FY 2015 sales were down, impacted by decreasing fuel sales (12.6% to £3.1bn) and same stores sales underperformance (including a positive contribution of 1.0% from the online business), which offset the 0.6% growth from new space. Margins marked a deep decrease compared to 2014, with the underlying operating margin down by 110bp to 1.5%. Net income stood at £222m, c