Findel makes encouraging progress with turnaround
Multichannel retailer Findel has made a satisfactory start to the year and is progressing its turnaround according to a statement issued by the company today. Group sales rose by 1.1% in the 17 weeks to 3 August with pressure on margins offset by cost savings.
Chairman David Sugden said: “We have made an encouraging start on our turnaround, although it is early days. The group's normal peak trading periods are still to come and the external environment continues to provide a headwind. Nonetheless, we continue to see the opportunity for significantly improved performance over the medium-term, and are confident that we are taking the right steps to achieve that.”
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