Hornby sales rise by 7% in Q3

International models and collectibles group, Hornby, has seen its sales rise 7% for the third quarter to 31 December 2024. 

It comes despite the British Retail Consortium reporting that UK non-food sales decreased by 1.5% compared with the same period the year before. 

For the financial year to date, group sales are also 8% ahead of last year and gross profits ahead by 10%. 

The retailer attributed its performance to strong activity around Black Friday and Christmas, which contributed to a 23% jump in revenues and a 38% gross profit growth compared with the previous year. 

Almost 50% of all Black Friday transactions came from first time customers – a rise from 42% in 2023. 

Meanwhile, Hornby’s direct-to-consumer sales increase “steadily” and are 10% ahead versus the same period last year.

Net debt marginally reduced in the quarter and was at £18.2m by the end of December 2024, compared to a net debt of £18.8m at the end of September.

Olly Raeburn, CEO of Hornby, said: “In a tough economic climate, we are pleased to be able to report growth in revenue, margins and gross profits through this critical quarter.

“Concurrently we are continuing to drive down the inventory levels that had built up in recent years and are delivering our change plans in a steady and sustainable way. Our turnaround is very much on track as we further reduce central costs, focus on our core brands and improve operational processes across the business.”