Shoprite (Isle of Man)
 Shoprite logo since 2008. |
|
| Type | Supermarket |
|---|---|
| Traded as | Shoprite Group Plc. |
| Industry | Retail (Grocery) |
| Founded | 1972 |
| Headquarters | Little Switzerland, Douglas, Isle of Man |
| Number of locations | 12 |
| Area served | Isle of Man |
| Key people | Andrew Thomas (CEO) Deryck Nicholson (Chairman) |
| Products | Groceries, consumer goods |
| Operating income |  £357,180 (2011)[1] |
| Net income | £39.1 million (2011)[2] |
| Owner(s) | Isle of Man Enterprises plc.[3][4] |
| Employees | 600+ |
| Website | www.manxshoprite.com |
Shoprite (Isle of Man) Ltd. (slogan Manx to the Max, Manx: Manninagh Lesh Bree) is a supermarket chain currently trading in the Isle of Man. It is a wholly owned subsidiary of Isle of Man Enterprises plc (formerly Shoprite Group Plc.).[5] The company shares are traded on the PLUS Stock Exchange though will be delisted from 3 January 2012. On 1 November 2011 the company announced an offer to buy back many shares along with an invitation to subscribe for Shoprite Bonds paying 2% cash interest per annum plus 3% Grocery Vouchers per annum[6]
Shoprite currently owns 12 stores in all the major settlements on the Island. Three in Douglas, two in Peel, two in Ramsey, three in Port Erin (the main Port Erin store had a major restructure and facelift between April and July 2011), one in Onchan and one in Castletown. One of the Port Erin stores is branded as an Iceland store[7] and another as Shoprite Living.[8] One of the Douglas stores trades as Winerite.[9]
The store in Port Erin has a Subway Cafe. This is a concept for Subway which is being piloted in 15 locations across the US.[10] It is believed to be the only Subway Cafe in Europe as of November 2011. There is no information available to show of any other Subway Cafes in Europe.
Its major competitors are Tesco (one store in Douglas with a "Tesco Express" store due to open in Castletown in February 2012)[11] and Manx Co-op (10 convenience stores across the island).[12]
The company slogan is "Manx to the Max".[13] It is the only store on the Isle of Man that stocks food from Iceland (UK discount supermarket chain),[14] Subway (US owned fast food franchise, currently the largest in the world),[15] Wilkinson (UK based high street discount store - loosely re-branded as "Shoprite Living"), Cook (UK frozen ready meal supplier),[16] Peacocks (UK "value" fashion retailer),[17] Waitrose (UK supermarket chain) [18] and Lloyds pharmacy (UK pharmacy chain).[19] Shoprite previously also had concessions from German company Tchibo[20] prior to the withdrawal of Tchibo from the UK market. Tchibo's lack of success in the British market was summarized in the Retail Week, 14 February 2008 issue, in which Tchibo was described as "a glorified pound shop". In 2009 Tchibo closed its own stores and supermarket concessions across the UK.[21]
In the 1990s Shoprite expanded by opening stores in Scotland. This move was however considered to be catastrophic for the company[22] as understood to have cost the Isle of Man company £15m when the stores were sold to (and re-branded as) Kwik Save in 1995. The share price in February 1994 was 241p but had fallen to 7p by June 1995 when the sale took place.[23]
The chain is not related to similarly named chains in the US or South Africa.
[edit] References
- ^ http://www.bloomberg.com/quote/IM+P:PZ
- ^ http://www.londonstockexchange.com/exchange/news/dow-jones/news-detail.html?newsId=20111012SN000503
- ^ http://uk.finance.yahoo.com/news/Isle-Man-Enterpr-Half-Yearly-afxcnf-2023063890.html?x=0
- ^ http://www.plus-sx.com/companies/plusCompanyDetail.html;jsessionid=79025FDB214FFE06FF440EF09CDD9724?securityId=10901
- ^ http://www.google.com/finance?cid=668440
- ^ http://www.manxshoprite.com/investors.html
- ^ http://www.iomtoday.co.im/news/business/shoprite_store_has_a_seven_figure_revamp_1_3425287
- ^ http://www.manxshoprite.com/storelocator/port-erin.html
- ^ http://www.manxshoprite.com/storelocator/douglas.html
- ^ http://www.independent.co.uk/life-style/food-and-drink/subway-chain-experimenting-with-fancy-caf-shops-2289180.html
- ^ http://www.iomtoday.co.im/news/isle-of-man-news/tesco_to_open_up_in_castletown_1_3930249
- ^ http://www.co-operative.coop/find-us/?q=isle+of+man&lat=54.23611&long=-4.548056&filters=Bank,Britannia,Food,Funerals,Homestore,Misc,Motor,Nonfood,Petrol,Pharmacy,Post,Travel&options=
- ^ http://www.manxshoprite.com/
- ^ http://www.ft.com/cms/s/0/12db964c-4058-11e0-9140-00144feabdc0.html#axzz1cvI9DClR
- ^ http://online.wsj.com/article/SB10001424052748703386704576186432177464052.html
- ^ http://www.cookfood.net
- ^ http://www.peacockscorporate.co.uk/corporate
- ^ http://www.waitrose.com/content/waitrose/en/home/about_waitrose/corporate_information/company_history.html
- ^ http://www.lloydspharmacy.com/
- ^ http://www.investegate.co.uk/article.aspx?id=200704051324295149U
- ^ http://www.reuters.com/article/2008/11/26/coffee-germany-tchibo-idUSLQ26922220081126
- ^ http://www.heraldscotland.com/sport/spl/aberdeen/shoprite-makes-costly-exit-15m-loss-on-kwik-save-deal-1.675729
- ^ http://www.heraldscotland.com/sport/spl/aberdeen/shoprite-makes-costly-exit-15m-loss-on-kwik-save-deal-1.675729
- http://www.google.com/finance?q=OFEX:SHO
- http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=875701
