Blue Inc like-for-likes rose 3.1% in the four weeks to January 4 as the retailer held firm on its price positioning.
Total sales jumped 14.7% at the mens and boyswear retailer.
Blue Inc chief executive Steven Cohen said that Christmas came late for the retailer. “Men come down the pecking order when it comes to buying Christmas presents. But we held our price positioning and didn’t go on Sale until Boxing Day.”
Cohen said that discounting events like Black Friday at the peak of the Christmas shopping season were unhelpful for the industry. “We’re teaching customers that they can buy their gifts on discount in peak Christmas trading. Once you’ve given them the opportunity to buy on promotion early in the season it’s difficult to get back to full price,” he said.
Cohen said that January had been “very strong” thanks to the colder weather. He said it had unleashed pent up demand.
He also identified a trend to give cash for Christmas which was helping sales thrive in January.
No comments yet