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Strong Christmas period boosts sales and LFLs at Jessops

Focus on “Choice and Service” pays off

CITY & CORPORATE

Strong Christmas period boosts sales and LFLs at Jessops

In the company’s Fourth quarter and Christmas Trading Update, figures show that total sales for the final quarter of 2010 were up 4.4%, with like-for-like sales up 5.3%.

Sales for the full year to December were in line with fourth quarter performance, and gross margin for the year was in line with last year.
The strong performance continued through the Christmas period with total sales up 2.2% and like-for-like sales up 3.0%.

The rollout of the new 'Black' store format, featuring ‘live product’ continued with 25 store refurbishments of existing or relocated stores, all of which performed well, delivering over 20 % uplift on pre-refurbishment sales.

Trevor Moore, CEO, commented,"Since the business was restructured in September 2009, the new management team has worked hard to deliver a strong performance based on Choice and Service, tailored to our customer base. We maintained leading market shares in DSLR and Lens product categories over the period, while our new store format has widened the appeal of our offer. We are planning for a further 85 stores to be upgraded in 2011, including 10 new openings.

Whilst we do anticipate tough market conditions to remain in 2011, we are confident that our proposition will continue to appeal to our growing customer base."

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