// Fishing tackle retailer Angling Direct has reported record sales for the year to the end of January
// Total online sales declined by 4.3% on last year to £33.8 million, but on a two-year basis sales grew by 33.9%
Angling Direct has said it expects to post a 7.2% year-on-year increase in full year revenue to £72.5 million.
The strong performance was achieved despite all of the group’s 42 retail stores, including in Halesowen and Willenhall, being forced to close between February 1 and April 11 last year due to Covid-19 restrictions and only being able to operate on a ‘call and collect’ basis.
In the year to 31 January, total store sales grew by 19.9% to £38.7 million or by 38.4% on a two-year basis. Meanwhile, store like-for-like sales climbed by 14.1%.
READ MORE: Angling Direct shuts down website after “cyber security incident”
During the period, Angling Direct increased its total number of stores from 38 to 42. Since the announcement of its interim results on 13 October 2021, it has launched new stores in Ipswich, Southampton and Cheltenham.
As expected, total online sales declined by 4.3% on last year to £33.8 million, but on a two-year basis sales grew by 33.9%. UK online sales accounted for 92% of total ecommerce sales in the year.
However, online sales in Europe fell by 39.3% after the retailer was hit by increased export costs and customer fulfilment times post-Brexit. Going forward, it expects to achieve a return to growth in Europe due to the imminent opening of its European distribution centre.
Chief executive Andy Torrance said: “We are extremely pleased with the company’s trading performance through what has been another challenging year. Despite significant Government restrictions endured during the period, we have delivered against our operational and strategic objectives. We have reported record revenues, opened four new stores and continued to invest in our long-term growth strategy.”
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