Wednesday, December 19, 2018

Aurum LFLs up 9% over Christmas


Luxury jeweller Aurum Holdings has reported a nine per cent increase in like-for-like (LFL) sales over the Christmas period, it was revealed today.

Aurum, which owns retailers Mappin & Webb, Watches of Switzerland and Goldsmiths, saw LFLs grow in the eight weeks to January 13th 2013, following the company‘s acquisition by US equity firm Apollo Global Management in December last year.

Apollo‘s acquisition of the jeweller is expected to be completed by the end of the first quarter of 2013.

Watches, one of Aurum‘s main sellers, maintained strong sales growth with total sales increasing by nine per cent in the eight week period, while watch retailer Watches of Switzerland saw sales leap up by 11 per cent.

Jeweller Mappin & Webb also saw an 11 per cent increase in sales, while sales at Goldsmiths rose by eight per cent.

Aurum reported improved product availability over the Christmas period and continued online growth, as customers took advantage of the jeweller‘s Click & Collect services.

Commenting on the results, Aurum CEO Justin Stead said: “Despite a challenging economic and trading environment, we have achieved another very strong performance over the festive period.

“I would like to congratulate the entire Aurum team and our Partners on a terrific result.

“These results show that our strategy to constantly improve our product offering, online position and customer experience has been a success and one which we will continue to implement in 2013 to deliver significant growth.”

Aurum expects to report a strong increase in EBITDA when it releases full-year results next month.