Ottakar’s on course for growth
Book retailer plans openings across year.
Ottakar’s has a programme of continued store exapansion in place as it builds on healthy sales growth since the start of its new financial year.
In the 14 weeks to May 8, sales have increased by 32 per cent year-on-year. The same period last year includes two weeks of sales figures from the 24 Hammicks stores acquired in April 2003.
In a statement to the retailer’s annual meeting, chairman Philip Dunne said that like-for-like sales for the year so far are up by 7.7 per cent. Ottakar’s sales growth has slowed since the Easter week, with the business up against stronger comparatives with last year.
Four new stores are already on track to open this year, with further sites expected to be announced at Ottakar’s next trading statement in July. Dunne said:”The outcome for the full year will, as ever, be determined by the key Christmas trading period. We are, however, on course to meet market expectations of an improvement in our trading performance in the current financial year.”
