The Works posts growth in full-year results

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The Works is celebrating a “successful year” for the 52 weeks to April 28, with revenue up 13.2% year-on-year, and overall like-for-like sales up 3%. The discount retailer reported this was driven significantly by its click-and-collect service.

 

The retailer, which sells discounted books, stationery, craft and gift products, reported its “eighth consecutive record Christmas performance,” though its like-for-like sales for the period did “soften” due to “widely reported economic and political uncertainty.”

 

Following strong performance at the 50 new stores it opened in the period, the company said it will continue with its strategy of rolling out new stores and that it is “well positioned for the future.” This translates to a planned store portfolio of 1000 stores in the UK and Ireland.

 

The Works chief executive Kevin Keaney said: "Overall, we have had a successful year as we continued to expand our store footprint and online proposition and introduce new customers to The Works.

 

“Our differentiated proposition, offering a wide range of new products at outstanding value and delivered by our highly engaged colleagues, continues to be well received by our customers.

 

“Notwithstanding the more uncertain backdrop since January, the business has multiple growth levers and we remain confident in the future prospects for The Works,” he concluded.

 

www.theworks.co.uk

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