UK: Seasonal sales boom for fashion chain
Write:
Fern [2011-05-20]
Fashion chain Republic reported "record breaking" trading over Christmas with like-for-like sales up 11 per cent in the eight weeks to January 4.
The Leeds-based company, which sells a mixture of branded and own-brand clothing, said total sales for the period climbed 23.6 per cent to £51.2m.
Internet sales also showed strong growth, rising by 38.8 per cent over the eight week period.
On a two-year basis, sales rose 46.6 per cent and like-for-like sales increased by 16.7 per cent.
Margins were also ahead and Republic said its sale would end this Sunday, a week earlier than last year.
Republic said that full year sales to January 31 would finish at in excess of £200m and EBITDA would be in excess of £30m.
Chief executive Tim Whitworth said: "Without doubt, our Christmas trading performance capped another successful and record-breaking year for Republic."