Studio posts bumper trading figures

Studio.co.uk, the retailer once known as Express Gifts, has recorded a nine per cent increase in sales over the last year, with double digit growth over the Christmas period.

studio.co.ukThe figures include a 7.8 per cent year-on-year growth in turnover relating to product sales, and 12.8 per cent relating to its financial services.

In a period where the company officially changed its name from Express Gifts, the value of online sales increased by 25 per cent, with 78 per cent of total orders being received through online channels. The mobile site proved particularly popular.

Studio also recorded high demands for its product personalisation service, with toys and nightware selling well in the lead up to Christmas.

Findel plc, the Greater Manchester-based group which owns Studio as well as a specialist supplier to the education industry, announced an increase in total group turnover of 6.5 per cent.

Phil Maudsley, group CEO, said: “I am delighted with the strong performance of Studio in its peak trading period. This is testament to the increased strength and consumer recognition of our online value retail offer.

"We delivered record-breaking sales and strong margin performance in the weeks leading up to Black Friday and consequently we now anticipate full year profit before tax to be towards the upper end of current market expectations."

Findel also said that while January is typically a quieter period for sales, the early weeks of the new Spring/Summer season for Studio have shown an encouraging response from customers, with homewares and garden ranges performing particularly well so far.