Home shopping group Findel has disclosed a 3 per cent rise in group sales in its second quarter, compared with the same period last year.
Findel said it is pleased with its performance during what is usually its quiet period.
Cash collection rates at its home shopping division followed a similar pattern to the previous year. Bad debt rates “improved significantly” during April and May and are now “broadly in line with those for last year”, the retailer said.
After a “disappointing” performance last year, Findel, which has 1.5 million credit customers and a 70 per cent retention rate, said in May that it would redirect a proportion of its recruitment marketing spend to encourage larger and more frequent orders from existing customers, rather than signing up higher risk, younger customers, who are more likely to default on payments.
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