The Works has seen a 7% boost in sales following unprecedented growth in its e-commerce arm.
The chain retailer, which stocks books as half of its product range, saw a 90% increase in online sales over the course of a year, bringing the company’s overall sales to £141m, up 7% like-for-like.
The company has also been trialing new store formats in eight of its stores, including rebranding its fascia to “theworks.co.uk” (see photo) to further push its website.
In the year to the end of April, the discount store saw a 47% increase in EBITDA to £8.2m. Its gross profit margins also increased 0.5% in that time.
Kevin Keaney, c.e.o of The Works, said: “Over the last three years, we have been gradually shifting The Works’ product offering in order to become the family-friendly discount retailer we are today. The rebalancing of our range towards gifts, art & craft and stationery has been key to our strong sales and profit growth over the last twelve months.”
The Works new formats trialed in eight shops include the creation of distinct shopping zones, such as dedicated ‘Kids’, ‘Art & Craft’, ‘Family Gifting’ and ‘Stationery’ areas, which are designed to make stores easier to navigate.
It has also launched a Together Reward Card loyalty programme.
“We have been really pleased with the performance of our new format trial stores and we plan to rebrand and refresh the majority of our store estate over the next three years,” Keaney said.
Anthony Solomon, The Works’ chairman, added: “This is our seventh consecutive year of sustained growth and expansion, which is outstanding considering the tough economic and retail climate. Over the last 12 months, we’ve worked tirelessly to expand our product mix to ensure it continues to be appealing and exciting for our customers. We have seen fantastic sales growth in categories such as art & craft and stationery, and continue to offer our customers good quality and great value for money.”
He said the company would continue to capitalise on “the significant growth opportunity that we see both on the high street and online.”