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Gear4music reports strong trading in July and August

Online musical instruments retailer Gear4music has said sales remained strong throughout July and August. The company also generated improved margins and spent less on marketing compared to the same… View Article

GENERAL MERCHANDISE

Gear4music reports strong trading in July and August

Online musical instruments retailer Gear4music has said sales remained strong throughout July and August.

The company also generated improved margins and spent less on marketing compared to the same period last year.

In July, Gear4music reported that sales had grown by 68% to £37.3 million in the three months to 30 June after it benefited from people having more time to play musical instruments during lockdown. It also said that its full year pre-tax profit was likely to be “meaningfully ahead” of previous expectations.

Due to hold its AGM today, the company now says it remains confident that its full-year results will be at least in line with its recently upgraded expectations despite it still being relatively early in its new financial year.

 

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