Studio reveals strong autumn retail performance
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Studio Retail Group has reported strong retail trading in the early weeks of its autumn season, with gifting and early Christmas ranges performing well.
The company’s product sales have grown by 30% in the six weeks since the announcement of its full year results on 24 August.
First half product sales rose by 39%, with home and leisure ranges proving to be popular.
In addition, online sales now represent 90% of total orders, with Studio’s mobile app to buy products having been downloaded over 700,000 times since its launch.
Studio said: “The peak trading period of Q3 covering Black Friday and Christmas is still ahead of us, which historically accounts for around 40% of the full year’s product sales.
‘‘Notwithstanding the inherent uncertainties that continue to be presented by Covid-19, we currently expect the adjusted profit before tax from continuing operations for the 2021 fiscal year to be ahead of our previous internal expectations.’’
