Nisa Retail swings into profit over Christmas
NISA Retail swung into profit over Christmas, reversing the large losses it suffered over the previous year's festive season.
Nisa, which is based in Scunthorpe, said the significant improvement in trading over Christmas was a sign that its turnaround strategy is taking off.
Over the 10 week period to January 3 2016, Nisa recorded a profit of £520,000, compared with a loss of £2.4m in 2014. Nick Read, the CEO of Nisa Retail, said: “It is very pleasing to report improved trading, as many of our initiatives gain momentum.
“Last year the business made a loss during the Christmas period, so to register a profit of over half a million pounds, in a challenging marketplace and during a turnaround year for Nisa, is particularly gratifying.
“Our continued investment in a strong own brand range and competitive pricing has helped our independent retailer members to perform well through a key seasonal trading period – underpinning Nisa’s position as the partner of choice for convenience retailers.”