The Works eyes growth following bumper Christmas despite deepening losses
The Works has predicted a growth in profit for the year following a bumper Christmas period, despite losses deepening in the first half.
In its interim results for the 26 weeks to October 30, 2022, The Works’ losses deepened to £10.7m, up from £1m in the previous period. Sales for the half grew 2.4%.
Like-for-like sales for the 11 weeks ending January 15, 2023, rose 5.7%. Store sales climbed 9.7% as customers came back to the high street, while online sales declined by 14% year on year.
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