Home shopping group Findel sales jumped 8% year on year in the 16 weeks to July 25 as its turnaround gained traction.
Findel’s largest business, Express Gifts, continued to deliver a “strong sales performance” because of its move towards value, an integral part of the retailer’s turnaround strategy.
As a result it recorded a lower gross margin but an increased total cash margin.
However, poor weather and holiday periods led to a decrease in Kleeneze sales year on year.
Football etailer Kitbag returned to sales growth and cash margin advanced over the period.
It has also won a new contract to manage the online retail operations for the French Open Tennis Championship from March next year.
Findel reported: “We are encouraged by trading, which suggests that our turnaround programme is gaining traction.
“Whilst the peak sales periods for the group are still to come and we remain cautious of the continuing pressures on consumer and government spending, we expect the current positive trading trends to continue.”
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