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Studio Retail Group has announced that sales were slightly ahead of the “exceptional” sales recorded last year, and 38% higher than two years ago, for the half-year ended 24 September 2021.
Despite the positive trading update, the online retailer noted that it has been affected by ongoing issues with global shipping container availability and supply costs.
In light of the ongoing supply chain issues, earlier this summer it took the “conscious decision” to secure its supply chain for the “crucial” trading period leading up to Christmas.
Plans to secure its supply chain included the use of its contracted container shipping plus additional charter ships, which has reportedly given it more guaranteed stock availability.
According to the group, this means that overall, Studio is in a ”strong stock position” ahead of the peak with inventory levels approximately 10% ahead of last year.
Nonetheless, it warned a small number of ranges have experienced delays which could still impact availability late into the peak season.
The group now expects to deliver around 40% of its full-year product sales during the upcoming Q3 period, as this includes Black Friday and Christmas.
It said: “Whilst the business is well positioned with a strong overall stock position, there are continuing headwinds in the wider market that make the outlook more uncertain than usual at this stage of the year.”
