23rd Apr 2019 09:58
(Angling Direct corrected that overall sales for February and March were up by 50.7% year-on-year. Like-for-like footfall rose by 29.5% and like-for-like sales by 28.5%)
LONDON (Alliance News) - Angling Direct PLC on Tuesday reported a strong start to 2019, with growth in sales and footfall in the first two months of its financial year, and the opening of a new store in Nottingham on Friday last week.
Shares in the fishing equipment retailer were 10% higher at 74.36 pence on Tuesday.
In the months of February and March, overall sales across all stores were up by 50.7% compared to the year before, while like-for-like sales were up by 28.5%, Angling Direct said. Like-for-like footfall in the first two months increased by 29.5%.
Online orders for January and February rose by 27% year-on-year due to strong performances from the UK company's German, French and Dutch websites.
In addition, Angling Direct said it had opened a new 4,500 square feet store in Nottingham, bringing its total UK stores to 27. Further stores are in the pipeline for 2019, it said, without specify the number.
"We are very excited to have opened our Nottingham store, which is set in a very popular angling area near the river Trent. The location also offers a good number of local lakes which all cover a broad range of fishing disciplines," said Chief Executive Officer Darren Bailey.
"Whilst other areas of the retail sector may be experiencing difficulties, we are delighted that our strategic focus on customer experience and service, as well as positioning our stores in the correct locations, is driving our growth and brand value. We look forward to updating the market on our further progress in due course," Bailey added.
Angling Direct will publish its results for the financial year that ended January 31 on May 13.
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