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Robert Dyas and Ryman report increased full year sales

Theo Paphitis Retail Group has reported that stationery retailer Ryman increased its revenue by 1.4% to £129.9 million in the year to 30 March 2019. EBITDA… View Article

GENERAL MERCHANDISE

Robert Dyas and Ryman report increased full year sales

Theo Paphitis Retail Group has reported that stationery retailer Ryman increased its revenue by 1.4% to £129.9 million in the year to 30 March 2019.

EBITDA also rose with an uplift of 6.5% to £8.2 million as the retailer benefited from the introduction of new categories and increased customer engagement in its stores.

Revenue at the Robert Dyas hardware chain grew by 6.3% to £131.8 million while EBITDA increased to £1.6 million from £0.5 million in the previous year. The retailer saw strong online growth following the introduction of new categories and a good performance in outdoor categories during the peak summer trading period.

The group also revealed that the Boux Avenue lingerie retailer experienced challenging trading conditions throughout the year which has resulted in a strategic and operational review of the business.

Looking at Christmas trading, group like-for-like sales fell by 1.3% in the six weeks to 24 December following positive sales at Robert Dyas, flat sales at Ryman and a reduction in sales at Boux Avenue.

Theo Paphitis said: “Looking back at the prior financial year and this Christmas, our group has delivered a resilient performance in what has been the most challenging retail environment we have ever experienced, underpinned by consumer uncertainty and declines in footfall.

“I am pleased that Ryman and Robert Dyas, as heritage brands on our high streets, have traded well over the prior financial year. Both businesses put in good performances, growing sales and profits as they focused on strong retail execution and category development, both online and in store. Christmas trading was also creditable for both businesses.”

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