BTC Stock
| Stock holding at 30th September |
£M |
£M |
Weeks cover |
|---|---|---|---|
| 2003 | 628 | 13.6 | |
| - Higher sales | 45 | ||
| - Extended ranges | 20 | ||
| - Bigger Christmas buy | 20 | ||
| - Supply chain buffer stock | 20 | ||
| 105 | |||
| 2004 | 733 | 14.7 |
Notes
£105 million of the £126 million higher growth in working capital is due to stock increases in Boots The Chemists.
The half year always sees peak annual stock holding in advance of Christmas and this year our buy for this period and quarter 4 has increased by £20 million.
A further £45 million reflects higher sales and new store openings, and £20 million is due to extended ranges.
The half year position is also ballooned by £20 million temporary buffer stock to reduce the risk of stock outs during supply chain and IT changes.
We anticipate stock will revert to normal levels by the end of the financial year.
