Peacock shows off its retail feathers

Click to follow
The Independent Online

Peacock Group, the discount retailer, yesterday said that sales in the 13 weeks to 13 July had moved up 13.6 per cent on the previous year.

Peacock Group, the discount retailer, yesterday said that sales in the 13 weeks to 13 July had moved up 13.6 per cent on the previous year.

The sales figures for the Cardiff-based group, although solid, were not as high as the previous year when the sales increase was 17.5 per cent thanks to the hottest summer since 1978.

Peacocks said last year's record hot spell had produced a set of comparative figures that would be difficult to match, particularly after the wet spell at the end of June this year which brought a downturn in summer clothes sales.

Chairman Gavin Simonds said: "The trading environment remains very competitive, and whilst it is early in the financial year we are pleased to report a positive start."

According to the group, improvements in the Peacocks division have been the result of a move to sell more fashionable lines, this has been most pronounced in the ladies and footwear sections of the company. Peacock also said that early introduction of the autumn transitional range had seen encouraging sales.

The group has continued to refurbish its Peacock retail stores, with a further 24 upgraded in the preceding quarter. Eight new stores opened at the same time, meaning that nearly 60 per cent of the chain was now operating under the new format.

Analysts at Seymour Pierce Research said the group was performing robustly.

The Peacock Group consists of the Peacock retail chain, Bonmarche, the women's retailers, and recently added the Liverpool-based perfume chain, The Fragrance Shop, to its portfolio.

Shares in Peacock closed down half a point at £2.43.5. Analyst David Stoddart, of Teather and Greenwood, took a "wait and see" approach to Peacock's prospects, saying it was "too soon" to change projections for the company.

Comments