The Works has upgraded its full-year profit outlook after like-for-like sales rose 10.4 per cent in the first 18 weeks of FY27.

The discount retailer reported that, for the 18 weeks ending 6 September, sales increased across all four of its key product categories. The performance included the important Back-to-School trading period and compares with 5.9 per cent like-for-like growth in the same period last year.

The Works said the results reflected the continued execution of its Elevating The Works growth strategy and demand for its screen-free customer proposition.

Looking ahead, the board now expects FY27 pre-IFRS 16 adjusted EBITDA to be at least £16m, up from previous guidance and ahead of current market expectations of £15m.

The retailer, which operates more than 500 stores across the UK and Ireland, said it remained mindful of ongoing macroeconomic uncertainty and the importance of the upcoming Christmas trading period.

CEO Gavin Peck said: “We are delighted with the strong trading momentum and like-for-like sales growth achieved during the first 18 weeks of the year, which includes the important Back-to-School trading period.

“This performance has supported a further upgrade to the Board’s FY27 pre-IFRS 16 Adjusted EBITDA expectations and reflects the successful execution of our long-term growth strategy and our clear focus on delivering a differentiated customer proposition focused on affordable screen-free activities for the whole family.

We remain focused on maintaining this strong trading momentum through the remainder of the financial year and delivering the Group’s exciting long-term potential for the benefit of all stakeholders.”

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