Booths reports losses of £3.9m despite sales growth

Summarised from 4 outlets · Updated 9 Oct, 10:37 · Archive

Upmarket supermarket chain Booths saw pre-tax losses rise to £3.9 million, blaming higher employment costs from government changes.

Upmarket supermarket chain Booths reported pre-tax losses of £3.9 million for the latest financial year, up from £846,000 the previous year, despite sales increasing by 0.6 per cent to £324.8 million.

The family-owned retailer blamed the widening losses on higher employment costs. The company said the increased losses were mainly due to "substantial additional employment costs imposed following the government's 2024 budget", particularly higher employer National Insurance contributions and increases to the National Living Wage. Gross profit fell by £1.1 million to £34 million during the year.

Booths operates seven stores across Cumbria, including branches in Penrith, Keswick, Kendal, Windermere, Ulverston, Milnthorpe and Kirkby Lonsdale. Chairman Edwin Booth said: "The rising cost of doing business has presented challenges for every retailer and this has also been a year of significant work behind the scenes at Booths."

He added: "What makes Booths special is our people and their knowledge, alongside food and drink chosen with real care. We will keep investing in what makes Booths distinctive and I look forward to the year ahead with confidence."

The company undertook a major overhaul of its sales, stock and IT systems during the year, as well as refurbishments at a number of stores. Like-for-like sales increased during the year and Booths reported strong Christmas trading, with like-for-like sales up 3.8 per cent over the three weeks to January 3. Business-to-business sales fell from £9.9 million to £7.9 million, which the company said was partly due to changes at a key client.

How it is being reported

• Booths blames National Insurance rise as losses widen despite sales growthUpmarket supermarket chain Booths has blamed increased employment costs, including changes to employer National Insurance contributions and the National Living Wage, after reporting a significant increase in annual losses.NW Evening Mail · 9 Oct, 10:31
• Booths blames National Insurance rise as losses widen despite sales growthUpmarket supermarket chain Booths has blamed increased employment costs, including changes to employer National Insurance contributions and the National Living Wage, after reporting a significant increase in annual losses.Westmorland Gazette · 9 Oct, 10:31
• Booths blames National Insurance rise as losses widen despite sales growthUpmarket supermarket chain Booths has blamed increased employment costs, including changes to employer National Insurance contributions and the National Living Wage, after reporting a significant increase in annual losses.Whitehaven News · 9 Oct, 10:31
• Booths blames National Insurance rise as losses widen despite sales growthUpmarket supermarket chain Booths has blamed increased employment costs, including changes to employer National Insurance contributions and the National Living Wage, after reporting a significant increase in annual losses.News & Star · 9 Oct, 10:31

In this story: Booths · Edwin Booth · Cumbria · Lancashire

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