Beatties upbeat on sales
Department store group outperforming sector
James Beattie has reported an ‘upturn in fortunes’ as the rate of sales decline lessens at the department store group.
In a statement to the annual meeting, chairman Chris Jones said: “I am delighted to report an upturn in fortunes with sales for the period April 1 to May 18 down by just 0.5 per cent compared to the corresponding period in 2004.”
He said the upturn is “significantly better than the current general retail trend”, and an improvement over sales in February and March, which were down 2.3 per cent.
Sales for the financial year so far are down by 1.4 per cent. In the West Midlands, where stores have been affected by increased competition, sales are down by 1.8 per cent, with other stores up by 1.3 per cent.
Jones said new chief executive Brian Heilbron “has been quick to recognise opportunities for going forward and improving our trading performance against the widely reported difficult trading environment on the high street. Sales from the introduction of new fashion brands have been encouraging.”
