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Growth reflected in in firm’s Fast 50 ranking

Kim Stewart Dec 12
Growth reflected in in firm’s Fast 50 ranking
Growth reflected in in firm’s Fast 50 ranking

The nationwide network of one stop convenience shops Night ’n Day Foodstores achieved 19th on the prestigious 2019 Deloitte Fast 50 index with revenue growth of 279%, as well as sixth on the 2019 Masters of Growth, and there are plans for more expansion.

Before the unveiling of this year’s index, Night ‘n Day had been named a regional category winner for Fastest Growing Retail or Consumer Products Business for Otago and Southland. New Zealand’s first Night ’n Day Foodstore was opened on Regent Road in Dunedin in 1990.

Night ’n Day general manager Matthew Lane says subsequent growth was organic and South Island-based until 2011, when the group took a leap of faith and partnered with Gull on 21 sites in the North Island. The company came fourth on that year’s Deloitte Fast 50 index.

Then in 2017, Night ’n Day expanded into the Wellington region, opening five stores in the CBD. “The turnover of CBD stores is very high, giving us very good acceleration from a growth point of view,” Matthew says.

He says the Fast 50 ranking recognises the hard work it has taken to achieve this growth and the pressure it has put on the Night ’n Day team. “We also think it’s a chance to sit back and reflect and appreciate what’s been done to get to this point.

“We pride ourselves on being locally owned and it’s nice to see businesses in any environment being pushed forward, particularly ones from down South.” There are several reasons customers choose to shop at Night ’n Day, and one is the diversity of its selection.

Matthew says Night ’n Day invests heavily in research and development to be able to support such a wide product range. Night’n Day’s growth strategy is now earmarked for the North Island in terms of standalone stores.

“There is no organised convenience network in place, therefore huge potential for Night ‘n Day to extend our network.“Night’n Day has not yet re-established to the same level in the Christchurch CBD since the earthquakes.

We are committed to increasing our presence within the Christchurch region and will take opportunities as they arise.Night ’n Day is a franchise network which has retained four company-owned stores in Dunedin, Nelson, Wellington and Whangarei.

Growth reflected in in firm’s Fast 50 ranking

Night ’n Day’s growth strategy is now earmarked for the North Island in terms of standalone stores.

 

A further 50 stores are franchisee-owned and operated. “We pride ourselves on being able to deliver a good outcome for franchisees in our group,” Matthew says.

“Our preference for growth is to convert existing independent operators to the Night ’n Day banner, giving them the assistance they need to take their store to the next level.”

Matthew says Night ’n Day has reflected on its system during the past five years, has identified weaknesses and implemented changes to improve them. “This will help in our future pursuits to relieve the pressure we’ve felt in the past.”

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