All The Works articles
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NewsThe Works sales edge up despite cyber attack aftermath
Sales at The Works edged up despite an “increasingly challenging consumer environment” and the aftermath of a cybersecurity attack that forced it to close five stores earlier this year.
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Analysis
Research: Stores key to 2023 investment strategy, say Primark, Under Armour and Waitrose bosses
Retail stores will see investment this year and remain central to many retailers’ strategy next year, the UK’s leading CEOs reveal in Retail Week’s strategic outlook report Retail 2023
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Data
Data: The 15 most improved retailers for gender pay equality 2022
Retail Week ranks the top-performing and most improved retailers for gender pay equality this year.
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News
The Works forced to close several stores following cyberattack
The Works has temporarily shut some of its shops and suspended deliveries to stores in response to a cyberattack last week that involved “unauthorised access to its computer systems”.
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News
The Works upgrades outlook as first half losses narrow
The Works has upgraded its EBITDA outlook for the 2022 financial year, after reporting narrowing losses in the first half of the year.
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News
The Works counts ‘significant’ supply chain costs as sales rise
The Works has racked up “significant additional costs” to shore up its supply chains for the crucial golden quarter but insisted full-year profits will be in-line with market expectations.
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News
Pingdemic hits fashion as stores forced to close
Fashion retailers are being forced to close shops and the opening of a new department store has been delayed as the ‘pingdemic’ forces workers to isolate.
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News
The Works emerges stronger after ‘intensely challenging year’
Arts and crafts specialist The Works has reported that it is well positioned for the future after navigating the challenges of the pandemic.
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News
The Works sales slide as coronavirus restrictions take toll
The Works revised its internal profit forecast earlier in January after store closures during the year tanked sales.
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Prospect Analysis
The Works (SWOT)
Its discount-led offer has thrived in the value-for-money climate that has prevailed in recent years and The Works has become the go to destination for good value stationery and art materials as well as discounted books. As part of its new ’better, not just bigger strategy, The Works is now taking a more strategic and customer-focused approach to range selection, stocking more front-list titles to improve its credibility as a bookseller.
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Prospect Analysis
The Works (Strategy)
Established in 1981 as a discount bookstore operation trading as Remainders, the retailer was re-branded as The Works in 2003.
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Prospect Analysis
Technology strategy at The Works
The launch of a new web platform in July 2020 provided improved functionality and an enhanced customer experience and has laid the foundations for the retailer to invest significantly in online fulfilment capacity and shortening delivery times.
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Prospect Analysis
Stores at The Works
The Works has been busy strengthening its multichannel offer over the past few years and a modern, nationwide store network is at the centre of this.
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Prospect Analysis
The Works (People)
Former CFO Gavin Peck replaced Kevin Keaney as chief executive in January 2020.
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Prospect Analysis
The Works (Overview)
The Works is the UK’s leading discount book retailer, but also sells a wide range of toys, gifts, stationery and art & craft supplies – all at discount prices.
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Prospect Analysis
The Works (Financials)
Boosted by the reopening of stores following a lengthy period of Covid lockdowns, sales at The Works surged 46.5% to £264.6m in the year to 1 May 2022 (FY2021), more than recouping the previous year’s 19.7% decline. Profit performance also improved significantly on back of the stellar sales growth, with statutory pre-tax profit coming in at £10.2m, against a loss of £2.8m in FY2020.
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Prospect Analysis
Ecommerce at The Works
The Works has a well-established ecommerce business and has invested in growing its online presence, not simply as a different channel for customers, but as an integrated part of the physical shopping experience.
