Le Riche’s Stores has continued to trade strongly from its larger stores, but has struggled to drive sales from smaller sites as the market approaches saturation point.
Unveiling a 3.75% boost in first half like-for-like sales, the Channel Islands’ largest food retailer said Checkers superstores had performed well.
However, some of its older c-stores were making slower progress in “an increasingly competitive and saturated market”, said the company. The chain, which is part of trading conglomerate CI Traders, is converting the bulk of its 45-strong estate to the Checkers and Checkers Xpress formats after trial conversions generated strong uplifts.
Total grocery and forecourt sales were up 9.5% in the 26 weeks to July 31.
The company declined to comment on speculation that Le Riche’s was next on the shopping list for companies such as Tesco keen to boost their c-store estates.