By James Wells
Betta Stores Retail CEO Graeme Cunningham is looking to end the 50th year of the Betta Electrical brand on a high after reporting strong sell-in and sell through data for 2011 in the week prior to Christmas.
“We are tracking up on last year in both sales out and purchases,” Cunningham told Current.
“Results are pretty even across most states, but New South Wales and Queensland are quite good,” he said.
The product categories providing this growth are weighted more heavily to the major appliances and air conditioning categories despite a cold start to summer.
“AV is steady in units, but is still difficult from a value perspective. Price deflation continues to affect this market,” he said.
“The new strategies and disciplines around buying have helped us streamline our operation and improve inventory management and cashflow and the results from our marketing activities have also been pleasing,” he said.
“We have begun our brand refresh across the group which will take between 12 to 18 months to complete. Overall the changes that we have implemented have enabled stores to trade through a difficult retail environment. Our focus is now on expanding the membership. The platforms we have laid position the group well for the future.”
Cunningham has welcomed Morrisons of Coffs Harbour as the most recent member of the group and following discussions with a number of existing retailers, several stores are expected to join the group in 2012.
Betta Stores Retail (BSR) joined the $3 billion Narta buying group in April this year in a decision which Cunningham said at the time needed to be taken in order to preserve the role of independents in the marketplace.
Since then, the group which is estimated to represent purchases has set about growing its membership while restructuring its marketing and merchandising departments.
BSR launched a dedicated online shopping portal in June in a move that Cunningham predicts will become a key component of the company’s business in the future.