Courts pushing on in tough market
Orders up for furniture retailer
February 20 2003
Tough trading conditions in the UK hit sales at furniture retailer Courts across the Autumn.
Lower consumer demand combined with rationalisation of stores and Courts’ decision to exit electricals retailing meant like-for-like delivered sales over the third quarter were 12.2 per cent lower than the same period in 2001.
Courts has strengthened its UK marketing and buying team and said that like-for-like bookings for the 15 weeks to February 16 were 8.1 per cent, and for the sale period starting in early December were up 9.3 per cent. However, the lead time between orders taken and deliveries means the full benefit of the recent order uplift will not be realised by the end of the financial year.
Courts said its new format stores continue to trade significantly ahead of the rest of the estate.
Overseas, delivered sales in the third quarter were “encouraging,” up 6.4 per cent like-for-like on last year, with strong performances in the Caribbean and Africa & Pacific regions more than compensating for continued weaker trading in South East Asia, where consumer spending is still down.
