With 76 stores across the country's east coast, Supa IGA, Australia's largest independent supermarket chain, is preparing for another overseas invasion
, cheeses and other savoury treats.
In the 2019 financial year, Ritchies fell just shy of that benchmark, reporting EBIT of $19 million, or a 1.74 per cent margin. But Harrison points to the business' consistent like-for-like sales as a sign of the company's true strength."We've had five consecutive years of like-for-like sales of somewhere between 1.7 per cent and 3.5 per cent. So we have been very consistent if nothing else," he says.
"The industry has been speaking about the death of independents for 25 years," Harrison says. "But the independent will never disappear." Harrison remains unfazed. "We might lose store numbers, we might lose share, but independents will always survive because we have an innate way of understanding the marketplace and adjusting our model to remain relevant."Ritchies chief executive Fred Harrison
It will also see the grocer donate its 50 millionth dollar to local clubs, schools and charities as part of its longstanding – and very popular – community benefit program.
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