Pre-Christmas sales reach £34.5m at Gear4Music
Sales at online musical instruments and music equipment retailer Gear4music rose to £34.5m – 42% increase in its total sales in the four months to Christmas.
In a trading update for the four months from 1 September 2017 to 31 December 2017, the York-based firm reported that its total sales stood at £34.5m – up from £24.4m for the same period in the previous year.
Its UK sales grew by 25%, from £15m to £18.7m and its worldwide sales grew 69%, from £9.3m to £15.8m.
Active customer numbers were up by 38% to 450,000 at 31 December 2017, compared with 31 December 2016. On a two-year basis, sales growth was 120%, ahead of the 114% for the same period last year
Gear4music’s chief executive, Andrew Wass, said: “We are very pleased with our trading performance over the last four months, with sales growth of 42% building on the 44% achieved in the first half, and trading for the year to date is in line with the board’s expectations. This has been achieved as we continue to invest in our customer proposition, marketing, people and websites, all with a view to enhancing our long-term growth prospects.
“Growth in our more established UK market has remained strong alongside very strong growth in our international markets which are being further driven by an improved delivery proposition as we continue to scale up our European hubs. Our Swedish distribution centre now fulfils over 50% of all our Scandinavian orders, and our German Distribution centre, which became operational just 10 months ago, dispatched over 800 orders on its busiest day in December.
“We are confident that the Group will continue to grow rapidly over the medium and longer term, as we continue our mission to become the best musical instrument and equipment retailer in Europe.”
