Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
Book retailer, The Works has announced it has had a “successful year” following the introduction of a click and collect service which has seen like-for-like sales and revenue rise.
Revenue at The Works for the 52 weeks to 28 April rose by 13.2% year on year, while like-for-like sales saw a 3% growth across the same period. The retailer described the figures as a “particularly pleasing performance” and added that it had seen an “eighth consecutive record Christmas performance”.
Despite the strong performance The Works said that like-for-like sales did “soften” due to “widely reported economic and political uncertainty”.
During the period the retailer opened 50 new stores and said the return on those stores was “particularly strong”. The retailer’s management team said it remained “confident” that its UK and Ireland store portfolio would hit 1000 in the near future.
The Works chief executive Kevin Keaney, said: “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. Notwithstanding the more uncertain backdrop since January, the business has multiple growth levers and we remain confident in the future prospects for The Works.”
