Sales boost at Ottakar’s
Steady Christmas growth at book retailer
January 16 2003
Book retailer Ottakar’s saw like-for-like sales increase by 5 per cent in the run-up to Christmas, with total sales up 19 per cent in the six weeks to January 11.
The company said Christmas trading showed steady growth against strong comparatives in 2001, with margins improving due to improved buying efficiencies. The business was boosted by best selling titles included Constantine and Woodall’s What Not to Wear, Schott’s Original Miscellany, Terry Pratchett’s Night Watch and Michael Palin’s Sahara.
Over the 24 weeks to January 11, total sales were up 17.9 per cent and like-for-likes up 3.1 per cent, while across 50 weeks total sales increased by 15.2 per cent and like-for-likes by 3 per cent .
Ottakar’s opened six new stores during 2002, as well as acquiring eight stores from James Thin, and now operates 93 stores. Prospects for 2003 have been boosted by the announcement of a June publication date for the fifth Harry Potter book.
Chairman Philip Dunne said: “We are encouraged by the trading performance over the Christmas period, with a good gross margin improvement demonstrating Ottakar’s ability to deliver results in a challenging retail environment.”
