The Works Announces Another Record Christmas
Discount retailer, The Works, has announced its strongest ever Christmas trading performance, delivering record sales for the fourth consecutive year. The retailer, which trades from 312 stores across the UK and online from TheWorks.co.uk, achieved a 6% like-for-like sales increase for the six weeks up to and including 28th December 2014.
The Works’ Christmas trading highlights included:
- Like-for-like sales increased by 6% for the 6 weeks up to 28th December 2014, the latest in four consecutive years of Christmas sales growth (2013 +10%; 2012 +6%; 2011 +7%)
- Like-for-like e-commerce sales increased by 140% for the six weeks up to 28th December 2014, the third consecutive year of online growth (2013 +81%, 2012 + 300%)
- GP margin 0.2 pp higher than December 2013 and cash margin increased by 6%for the same period
Kevin Keaney, CEO of The Works, said: “This is another standout performance for The Works. To deliver record breaking sales for the fourth Christmas in a row, with strong performance across both our store estate and online, is an achievement that we are extremely proud of. By offering great value to our customers as the norm, we’ve also been able to maintain our margins throughout December rather than being forced into heavy discounting before our planned Boxing Day sale kick-off."
In October 2014, The Works launched a click-and-collect service as part of its multichannel growth strategy. Keaney continued: “We have been absolutely delighted with the performance of our e-store this Christmas and the launch of click-and-collect has certainly boosted online sales, allowing our customers the convenience and peace of mind of being able to collect their online order from any of our stores nationwide.”
The Works Stores is owned by Chairman, Anthony Solomon, and Endless LLP.