Please find enclosed a comment from Fiona Cincotta, a senior market analyst at www.finspreads.com
Booker reported a 6.5% fall in tobacco sales in the 10 weeks to 28th August. This is not the first time that falling tobacco sales have been reported by the food wholesaler giant, in fact quite the reverse. It appears that falling tobacco sales are almost becoming the new norm at Booker, as more and more people look to give up smoking or at least cut down and cigarette usage is now at a record low and dropping. Furthermore, Booker is feeling the effects of the tobacco display ban in smaller stores which is taking hold and feeding through into the bottom line.
However despite the blip in tobacco sales, non-tobacco sales for the group grew 0.1% and they remain on target to hit full year expectations.