Buying group members recover lost sales
February 11, 2021
Major furnishing buying group AIS has reported a 22% decline due to the pandemic, including a 24% drop in their Flooring One transactions, but strong post-lockdown growth meant many recovered the lost sales.
In its financial statements just posted for the 12 months ending 30 June 2020, Associated Independent Stores (AIS) said transactions through its Cenpac payment system declined 21.9% to £376m after sharp falls in trading in the last quarter of its financial year – April to May 2020.
For its Flooring One business, the decline in transactions was 23.8% for those 12 months but the company noted in its accounts that “since the start of the new financial year in July, flooring throughput has been strong and at the end of the first quarter [July–September 2020] was 12.6% up on the same period last year.”
In its financial statements just posted for the 12 months ending 30 June 2020, Associated Independent Stores (AIS) said transactions through its Cenpac payment system declined 21.9% to £376m after sharp falls in trading in the last quarter of its financial year – April to May 2020.
For its Flooring One business, the decline in transactions was 23.8% for those 12 months but the company noted in its accounts that “since the start of the new financial year in July, flooring throughput has been strong and at the end of the first quarter [July–September 2020] was 12.6% up on the same period last year.”
The report adds: Furniture, along with flooring, has shown the fastest recovery since the end of the [first] lockdown with some members recovering all of their lost turnover in the period to date since the stores were allowed to re-open in June.”
Flooring One members have 188 retail outlets across the UK.
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