Crawshaw shares slump after slow festive sales

Crawshaw shares slump after slow festive sales

Crawshaw, the UK’s leading value butcher, suffered meaty fall in it’s share price after annoucing its Christmas trading figures.

Shares in the group were down over 7% on Friday after the group revealed like-for-like sales were down 6.1% in the 15 week period  to 24th December.

The group blamed lower footfall and weak consumer sentiment for the drop in sales.

CEO, Noel Collett, said of the results:

“On balance, this was a solid core Christmas trading performance against what remains a very tough high street environment. Our biggest ever Christmas week and the record number of meat hampers sold clearly demonstrates the trust our customers place in us for their most important meat spend of the year. This gives us a solid platform to improve trading momentum going into 2018.

“We continue to focus on strengthening Crawshaws’ position as the country’s best value butcher. We are excited by the performance of our factory shops and by the progress of our 2Sisters supply agreement and, while there is much to do, we remain confident that this combination will be transformational for the long-term growth of the company.”

Crawshaw results add to the mixed picture of consumer health during the Christmas period following the release of results from Next and Debenhams.