Peacocks Christmas sales edge ahead
Discounter boosted by addition of Bon Marche
January 8 2003
Clothing discounter Peacocks saw like-for-like sales increase by 3 per cent in the five weeks to January 4.
The group’s Christmas sales were boosted by the Bon Marche chain, acquired in July 2002, which saw a like-for-like sales increase of 7 per cent over the holiday trading period, compared to a 1 per cent like-for-like increase in the core Peacocks chain.
In the 13 weeks to December 28, group like-for-like sales were up 2 per cent, with a flat performance in Peacocks and a 6 per cent increase in Bon Marche. However, the performance contrasts with a 4 per cent like-for-like decline in Peacocks in the first half.
Like-for-like gross profit for the group in both the third quarter and the Christmas period is up 4 per cent.
The company said its new Peacocks format continues to perform well, with average sales at the 24 refitted stores increasing by 13 per cent in comparison to the chain as a whole. Another 30 stores are due to be revamped.
Richard Kirk, group chief executive, said: “The repositioning of Peacocks and the introduction of more fashionable ranges is beginning to deliver sales and margin improvements. The performance of Bon Marche is ahead of expectations. We are on track to deliver significant earnings growth in the current year.”
