Cash Generator toasts record sales hike

CASH generator, the North West retail and financial services chain, said sales in the six weeks to January 2 had beaten previous records.

The Bolton company, which sells second-hand electrical goods and runs pawnbroking, currency exchange and cheque-cashing services via a franchise chain of 110 stores, said retail sales had risen 6.6% like-for like in the period, while Internet sales were up 16% on the 2009 figure.

The company said sales of home technology products, such as flat screen TVs and laptops, had been “very buoyant” and aided by strong demand for electronic games and toys. 

Other products proving popular during the festive period included digital cameras, jewellery and musical instruments.

Managing director Julian Urry, managing director of Cash Generator, said: “I am delighted with our Christmas performance.  We have enjoyed a busy six weeks of trading and performed well during the Christmas period. 

“This has ended the year on a high as have enjoyed year on year retail sales growth throughout 2009.”

Mr Urry said last year had been a “productive and exciting year” which had seen the opening of the group’s 100th store and launch its website

“Last year’s buoyant trading was clearly a result of consumers’ continuing and growing appetite for great products at bargain prices.

“2010 looks set to be another strong year performance-wise for the company.  We have more than 20 new stores scheduled to open and expect to announce record year end results at our year end, being 31st January 2010.”

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Online Cheshire retailer The Hut also enjoyed a bumper Christmas trading period.

Its acquisition last year of the zavvi brand from administrators continued to pay off as sales jumped 188% in the six weeks to December 21.

International sales via zavvi.com were up 240% as orders flew in from Scandinavia, Holland, France and Germany.