THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Gear4music reports strong sales growth

Online musical instruments retailer Gear4music increased its total sales by 36% to £42.5 million in the six months to 31 August.

GENERAL MERCHANDISE

Gear4music reports strong sales growth

Online musical instruments retailer Gear4music increased its total sales by 36% to £42.5 million in the six months to 31 August.

The retailer also saw its number of active customers grow by 40% to 547,000.

While UK sales were up 34% in the period, international sales climbed by 39%.

Gear4music's chief executive Andrew Wass said: "We have continued to make good progress over the last six months, with sales growth during the period of 36% being ahead of our expectations.

“Our core UK market continues to perform well and with the UK distribution centre upgrades we announced in May progressing to plan, we are well positioned to deliver further strong sales growth during the busier second half of the year.

“Whilst still strong, European sales growth reflects a slower than anticipated build-up of inventory at our European distribution hubs, particularly in Sweden.”

Gear4music will complete a move into a new higher capacity Swedish distribution centre by the end of October. It has also recently expanded its European purchasing team as it looks to increase the range and depth of inventory at both of its Swedish and German locations ahead of the peak trading season.  

The company has also confirmed that it will be changing its accounting reference date from 28 February to 31 March to make its reporting cycle more compatible with its seasonal trading patterns.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process