The Works sales rocket in January driven by non-book products
Discounter The Works had its best ever January last month as its non-books ranges powered growth.
The Works like-for-likes rocketed 45% in the four weeks to January 26. In the 13 weeks to January 26 like-for-likes jumped 14% while gross margin was up 1.5 points.
Revenue growth in the quarter was driven by a 40% sales surge in stationery and a 27% increase in arts and crafts.
The Works chief executive Kevin Keaney said: “We’re delighted and proud of our latest set of numbers. Over the last three years, we have moved to become a true discount store by adapting our product offering and investing in e-commerce to ensure our proposition is relevant for today’s trading environment. Our performance over the last quarter has demonstrated that this is delivering great results.
“A major contributor to our recent success has also been customer reaction to our Together Card loyalty scheme, with sign-ups well ahead of our expectations.”
The Works, which operates 305 stores, is owned by chairman Anthony Solomon and private equity firm Endless.