News | Financial report 2017

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Slight drop in number of stores operating under the True Value logo

At the end of 2017, the number of independent-retailer-operated stores belonging to the True Value cooperative, in which an investment group now has the majority holding, was 4 311. This figure was down by 81 from the end of 2016. Although 59 new core hardware stores joined in 2017, only 27 domestic retailers were converted from other buying groups, thus fewer than in previous years. 52 international and speciality stores also joined the cooperative.

In 2017 comparable retail sales of the True Value stores increased by 0.8 per cent, as reported by more than 1 700 retailers who provide point-of-sale data, while comparable retail sales of the Destination True Value distribution channel increased by 1.9 per cent. The financial report also revealed that the gross billings of True Value declined by 0.9 per cent to USD 2.055 bn.

|26 April 2018


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