Revamped Peacocks sees sales boost
New ranges bringing in customers
September 24 2003
Clothing retailer Peacocks has seen strong trading across its first half, with group like-for-like sales up by 8.2 per cent in the 25 weeks to September 20.
The group said it has continued to trade strongly, seeing the dual benefits of a successful revamp of the core Peacocks chain, which is offering more fashionable ranges, and the appeal of the Bonmarche chain, acquired last year, which targets the more mature ladieswear market.
The 382 store Peacocks chain saw like-for-like sales increase by 8.5 per cent across the first half, with and 8.8 per cent increase in the 12 weeks to September 20. The ongoing refurbishment programme saw 56 more stores revamped.
The second quarter saw an improvement thanks to better margins on the expanded fashion offer and lower markdowns due to better sales of summer lines.
Bonmarche saw a 7.7 per cent like-for-like increase across the half, with a sharp 15.5 per cent increase in the first quarter declining to a 1.1 per cent decline in the second. Peacocks said Bonmarche had seen very strong early season sales along with a significant increase in margins due to lower markdowns compared to last year. As a result, reduced stock levels contributed to slower like-for-like sales growth in the second quarter.
The launch of the Bobmarche autumn ranges has seen like-for-like sales growth increase back towards the levels of the first quarter, said the company. A further 21 Bonmarche stores were opened across the half, bringing the total to 289.
Chairman John Lovering said: “We are pleased with the good progress we are making across the group and are confident that, despite tougher comparative sales in the second half, good overall growth will continue to be achieved.”
