Oliver’s Real Food posts lower September quarter sales
Oliver’s Real Food‘s revenue slipped in the September quarter as the NSW Holidays started in October and its new Pheasant’s Nest stores performed below expectations.
The company’s revenue fell 1.02 per cent to $6.1 million, with like-for-like sales declining 8.80 per cent.
Like-for-like store performance decreased 12.07 per cent in NSW and 2.74 per cent in Victoria, but rose 13.21 per cent in Queensland.
The company noted its Wyong North store sales plunged by $230,000. The store was its only quick-service restaurant operating at the site while the main service centre underwent major renovations.
The renovated service centre and increased competition at the Wyong South store impacted sales.
The group’s gross margin percentage went down to 63.04 per cent.
The post Oliver’s Real Food posts lower September quarter sales appeared first on Inside Retail Australia.