Revenue boost for The Works online and across growing store network
Multi-channel retailer The Works has announced a revenue increase of 13.2 per cent in the 52-week period ending April 28.
Specialising in arts, crafts, books, stationery and gifts, The Works has seen an overall like-for-like sales uplift of 3 per cent, driven by both online and in-store sales.
The rollout of 50 new stores across the country has also been successful according to the report, with returns on new stores reported as strong.
The company’s click & collect service also saw a “particularly pleasing” performance over the year, and despite an “uncertain backdrop since January” due to political uncertainty, the firm is confident about future growth.
Kevin Keaney, chief executive officer of The Works, commented: “Overall, we have had a successful year as we continued to expand our store footprint and online proposition and introduce new customers to The Works.
“We achieved another record Christmas, solid like-for-like sales growth and further cash margin improvement in the year. Our differentiated proposition, offering a wide range of new products at outstanding value and delivered by our highly engaged colleagues, continues to be well received by our customers.”
He concluded: “The business has multiple growth levers and we remain confident in the future prospects for The Works.”
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