The Works Announces Record Christmas Trading Period for 2013
Discount retailer, The Works has announced a record sales performance for the Christmas trading period for the third consecutive year. The retailer which trades from 305 stores across the UK and from its e-store theworks.co.uk achieved its highest ever December sales with a +10% Like for like sales increase on the same period in 2012.
The Works Christmas trading highlights included:
- Like for like sales for December 2013 + 10% (2012 +6% and 2011 +7%)
- Like for like sales + 9.5% for the ten weeks to January 5th.
- Like for like e-commerce sales for December + 81% (December 2012 + 300% )
- GP Margin 1.5 pp higher than December 2012 and Cash Margin + 11.5% for the same period.
Kevin Keaney CEO of The Works, said: “We are very proud to have delivered a record breaking sales performance for the third Christmas in a row. Despite the tough trading environment our strong sales growth shows there is a place on the high street for a family friendly retailer that offers the savvy shopper high quality gift products at bargain prices. We are also pleased to report that we were able to maintain our margins throughout the month and launched our sale on Boxing Day as planned."
In October 2013 The Works became the first retailer in the UK discount sector to launch a loyalty card; Keaney continued “We have been absolutely delighted with the extremely positive response from our customers to our ‘Together’ loyalty card scheme. Registrations are well ahead of forecast and the card has undoubtedly contributed to the delivery of our record Christmas sales performance.”
The Works Stores is owned by Chairman Anthony Solomon and Endless LLP.