UK trader adds 27th store and reports record start to 2019
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Angling Direct’s like-for-like store sales jumped 28.5% in February and March, according to figures announced by the UK retail chain yesterday. Overall store sales were up by 50.7%.
The record start, driven by both in-store and online sales, prompted a surge in the share price of 12% during early trading.
In a trading update, the Norwich-based retailer said online orders for February and March were up 27% compared to the previous year, with strong performances from the company’s German, French and Dutch websites.
“Whilst other areas of the retail sector may be experiencing difficulties, we are delighted that our strategic focus on customer experience and service, as well as positioning our stores in the correct locations, is driving our growth and brand value,” said Chief Executive, Darren Bailey.
The group says its 27th store, which opened last week in Nottingham, is the first destination store of its kind in the area, and that more new outlets will be opened this year.
“As we seek to cater for all anglers across the UK with a modern retail offering, we will continue to strategically expand our physical geographical footprint,” said Bailey.
“We will also enhance our online offering in terms of products, experience and education in order to help raise the profile of angling.”
Angling Direct will report full year results on Monday, May 13, 2019. Earlier this year the company said it expects to post a 39% jump in revenue to £42m for the year.