Booker sales dip despite growth in retail and catering divisions

Tesco on reported a fall in like-for-like (LFL) sales of 1.8 per cent at it wholesale arm Booker for the financial year 2024/25, weighed down by a continued slump in the tobacco market and weaker demand in parts of the fast-food sector served by its Best Food Logistics unit. Despite this overall decline, Booker saw growth in its core segments. Core retail LFL sales rose by 0.9 per cent, while core catering posted a stronger 2.1 per cent increase, supported by price-lock campaigns and improving availability. The group also added 566 net new retail partners during the year. Whilst the independent convenience sector is seeing some trading softness, Booker said its symbol brands performed strongly. Booker retail customer satisfaction continued to improve, with gains year-on-year. Booker’s total sales for the year stood at £8.99 billion, down 1.8 per cent per cent year-on-year. The decline was primarily driven by an 8.8 per cent drop in tobacco sales and a 5.1 per cent decrease at Best Food Logistics. However, Booker’s catering sales were boosted by the integration of Venus Wine and Spirit Merchants, acquired in June 2024, which expanded its offering to the on-trade sector.