Robust performance from Land of Leather
The success of advertising campaigns, including the wider use of television has led to a higher proportion of promotional products sold and a slight reduction in gross margins.
Total sales order intake inc. VAT was up 30 per cent, like for like sales orders from 38 stores up 7 per cent with new stores all delivering strong sales.
The effect of new store openings, two relocations (Manchester and Exeter) and the installation of four new mezzanine floors in existing stores is expected to lead to a greater proportion of profitability in the second half of the current financial year.
Commenting on the trading statement Paul Briant, Chief Executive, said: ‘This performance demonstrates that we are able to make good progress even in today’s more challenging trading environment. Our continuing success is based on our position as the UK’s only national retailer that specialises solely in retailing
leather sofas combined with the appeal of our strong value led offer.’
