Go Outdoors achieves record sales
Outdoor retailer Go Outdoors has reported achieving record sales in its full year results.
In the year to 26 January, sales reached £172 million from £171 million in the previous year while EBITDA grew to £10.2 million from £9.4 million.
The company generated a pre-tax profit of £1.5 million following a significant investment in new stores and its e-commerce capabilities.
The Sheffield-based retailer now operates 49 stores across the UK and employs over 1,700 staff. More than 100 jobs were created in the financial period.
Go Outdoors said it made a number of improvements to the business during the year. This included refinancing the business for the longer term, growing the store portfolio, strengthening the management team and improving several key operational areas, including logistics, in-store service, and multi-channel.
Chris Matthews, chief executive of Go Outdoors, explained: “2013/14 was positive for Go Outdoors, despite challenging market conditions, with earnings up 8.5% on the previous year.
“Since the year-end we have opened four new stores and created more than 100 new store-based jobs. Store expansion continues with three more large-format sites imminent, and further format development planned. We saw margin benefits from our own-brand ranges, supported by our sourcing operations in China. In addition improved clearance sell through has allowed us to introduce new improved products delivering better sales and margin performance.”
This year the company welcomed its three millionth customer to its discount card loyalty programme.
Looking ahead Matthews added: “Whilst conditions in the market remain fragile, we are well positioned for the Christmas peak trading period.”
