Discount retailer The Works has announced a record sales performance for its latest quarter with a 14 per cent like for like sales increase and GP margin 1.5 points higher than the same period last year.
Sales performance for the quarter was driven by significant growth in stationary (+40 per cent), art, craft and hobby products (+27 per cent) and regional specific ranges (+33 per cent).
The retailer, which trades from 305 stores across the UK and from its e-store also had its best ever January with a 45 per cent like for like sales increase when compared to January 2013.
Kevin Keaney CEO of The Works, 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 Stores is owned by Chairman Anthony Solomon and Endless LLP.