Cox & Cox boosted by strong fourth quarter trading
Homewares retailer Cox & Cox saw its sales climb by 85.4% year-on-year in its fourth quarter after strong Christmas trading.
The volume of orders was up 68% compared to the Christmas trading period in the previous year. Meanwhile,
online sales climbed by 116%.
The figures meant that sales were up 74.5% in the retailer’s full financial year.
Richard Bell (pictured), chief executive of Cox & Cox, said: “It’s the most time sensitive part of the year, so we aimed to pull demand forwards as much as possible, putting the onus firmly on operational efficiency and good customer service to cope with seasonal orders smoothly and in time.”
Cox & Cox said the strong performance continued into January as customers responded well to the retailer’s new season products.
Bell said: “We have improved revenue per customer in every cohort, while more than halving the cost per acquisition for new customers. All departments continue to trade up, and we’ve added over 400 new lines for the SS21 launch, with more to come.”
Last year, Cox & Cox expanded its office furniture range to meet demand from customers working from home during the coronavirus pandemic. Desk sales were up 831% in the quarter while sales of office chairs rose by 2036%.
Looking ahead, Bell said: “With Government warnings that lockdown measures are likely to extend beyond March, and advice not to book summer holidays, we expect another year of staycations, garden living, and working from home. We have planned meticulously to cater for the needs of our ever growing design-conscious customer base to ensure we can provide them with the products they need to make the most of this new way of living.”
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