Nisa has reported a year-on-year sales increase of £377m for the past three months, as the symbol group grabs 1,039 new stores following the collapse of Palmer & Harvey.

According to the group’s Q4 results, Nisa has increased the number of retailers it supplies by 38.5% to 4,797.

However, the results also showed that like-for-like sales were down by 1.1% and more than 330 stores left Nisa during the period, which included 267 McColl's Retail Group stores.

Arnu Misra, Nisa Retail interim CEO, said sales and recruitment have continued growing after a 'strong' Christmas trading period.

"I am also pleased to report that during a quarter of increased store growth, we were able to generate cash without significantly impacting service to our existing members," he added.