On a two year basis compared with 2019 before the pandemic, retail like-for-like sales increased by 12.9 per cent over the third quarter as a whole, the retailer said in a trading update this morning.
Sales surged by 18.5 per cent in the first eleven weeks after stores reopened to customers on
The retailer said that while percentage gross margins in the period were slightly lower than previous guidance, its gross profits were strong.
It comes after the company in May reported a half year of contrast, with retail like-for-like sales up nearly 20 per cent in the first three months of the period, then down 17 per cent in the following three months, when the
It also said that at the end of the third quarter, its cash balance had increased to £26.9m.
Chief executive officer
“Building on the initial recovery we reported at the time of our interim results, our retail sales strengthened further over the balance of the period,” he said.
“We remain positive on the trading outlook for the remainder of the financial year, and are well positioned to take advantage of increased consumer confidence and spending.”
The company has a “1 in 5 by 2025” goal of accounting for £1 in every £5 spent on tiles and associated products in the
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