By James Wells
ALICE SPRINGS: While the Large Format Stores (LFS) over 1,000 square metres within the Retravision Western group have grown 33 per cent year on year for the nine months to 31 March, the entire group which consists of seven divisions, recorded 20 per cent growth overall.
According to Retravision Western marketing manager, Craig Larkin, the pilot program for the Large Format Stores (LFS) generated increased sales by 33 per cent in the nine months to 31 March 2007.
Tthe strong economy in Western Australia as well as residual awareness of the Retravision brand also helped growth other facets of the Western Division’s business, to generate overall growth for the group of 20 per cent overall, 24 per cent up in WA only and 8 per cent up in SA only.
According to Larkin, West Coast Hi-Fi grew by 27 per cent year on year for the nine month period while the Electric Sales commercial business grew by 20 per cent over the same period.
“The remaining Retravision WA retailers, referred to as ‘core stores’ grew by 17 per cent, while the South Australian stores grew by 15 per cent," he said.
Retravision Western’s South Australian and Northern Territory member stores grew by 5 per cent over the period while the underperforming specialist Fridge & Washer City grew by just 4 per cent in a competitive market.
“The large format store group is the real engine of growth,” Larkin said.
“I am pleased with the sales from the ‘core stores’ or the remainder of the Retravision WA stores – it shows that the large format stores are dragging through and leveraging the rest of the network."
"If you take out the South Australian businesses, the Western Australian based divisions grew by 24 per cent in a market that is growing by 15 per cent. The South Australian business grew by 8 per cent in a market which is down across the board by 2.6 per cent," he said.
"We are a service provider that is capable of servicing other retail businesses other than just Retravision."
Earlier this year, Retravision Western started a new retail brand – Best Buy Electrical – consisting of 10 former Betta Electrical stores in Western Australia. Last month, Retravision Western acquired the $30 million Truscotts group in South Australia which consists of seven stores.