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 sales up 73% following success in Europe
Gear4music chief executive Andrew Wass

Online musical instrument retailer Gear4music has achieved a 73% increase in half year sales after seeing strong growth in Europe.

GENERAL MERCHANDISE

Gear4music sales up 73% following success in Europe

Online musical instrument retailer Gear4music has achieved a 73% increase in half year sales after seeing strong growth in Europe.

In the six months to 31 August, sales grew to £21.6 million from £12.5 million in the same period a year earlier.

Gear4music chief executive Andrew Wass said: “We are very pleased to have sustained the strong sales momentum announced on 29 July and achieved 73% like-for-like revenue growth during the half year, and overall profitability in the period will be ahead of management expectations as we head into the key second half trading period.

“This impressive growth reflects our focus on continual investment in and improvement of our product range, websites, systems and overall customer proposition, and the commitment of our hard working team.”

While UK sales rose by 44%, sales in Europe surged by 169% as the retailer looks ahead to opening a new distribution centre in Sweden this November. It is also working towards opening a second European hub before the end of this calendar year.

Gear4music said the additional distribution capability will also be augmented with localisation of some purchasing and merchandising functions to ensure that the business is well placed for any Brexit eventuality.

During the period, Gear4music grew its number of active customers from 187,000 to 271,000.

 

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

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
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
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 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.
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
Fix The Dinosaur Roundtable 2018
Fix The Dinosaur Roundtable 2018
19 October 2018
The Euston Suite, The Hallam, 44 Hallam St, London W1W 6JJ
A Masterclass in IBMi Legacy Issues