The Works to meet full year market expectations

The Works has said it remains confident of delivering full year adjusted EBITDA in line with market expectations.

In a statement ahead of its AGM today, the retailer said it had experienced positive trading on its current financial year to date despite a “challenging” consumer backdrop. It added that its like for like sales continue to outperform the wider market as it benefits from the impact of its ‘Elevating The Works’ strategy.

The Works has also announced that it has made significant progress on two key strategic initiatives ahead of the busy Christmas trading period. These include the recent completion of a new mezzanine level at its retail distribution centre, which has boosted operational capacity, and the upcoming transition to a new third-party online fulfilment provider.

Looking ahead, the retailer said: “In light of the positive year-to-date trading performance, ongoing cost-saving activity and sustained margin growth, we are well positioned to offset significant cost headwinds and deliver further strategic and financial progress.

“The board remains confident in delivering FY26 profit in line with market expectations of pre-IFRS 16 adjusted EBITDA of £11 million.”

In July, The Works announced that its adjusted EBITDA had climbed by 58% to £9.5 million in the year to 4 May while pre-tax profit increased by 20.3% to £8.3 million.

However, total revenue fell by 2% to £277 million, although like-for-like sales edged up 0.8%.

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