Friday 20 September 2019

Angling Direct books rising sales amid bumper Black Friday trading

The fishing retailer posted a 31.5% rise in sales to £14.6 million.

An angler on Tunstall Beach in Yorkshire (PA)
An angler on Tunstall Beach in Yorkshire (PA)

By Ravender Sembhy, Press Association City Editor

Angling Direct reeled in rising sales in the last quarter as it profited from record Black Friday sales.

The fishing retailer posted a 31.5% rise in sales to £14.6 million in the four months to November 30, while in-store like-for-like turnover increased by 7.2% to £4.96 million.

Online revenue rose 24.3% to £6.7 million, with sales in Black Friday week rocketing 55.8% to £1.3 million.

Angling Direct chief executive Darren Bailey said: “The company has taken great encouragement from the recent performance against the backdrop of a difficult retail trading environment.

“As the business launches its new international websites and continues to invest in its stores and overall customer experience, we believe that Angling Direct remains well placed to build on its market leading position.”

International sales were up 96.1% during the period, driven by Angling Direct’s new German language website.

The stellar trading update comes after the firm said it is to raise £20 million to bankroll a store expansion programme and develop its online offering.

The company wants to open around 20 new stores in the UK in 2019 and 2020 as well as “significantly” increase online sales.

Its performance comes in stark contrast to rival Fishing Republic, which has announced its intention to appoint administrators.

PA Media

Today's news headlines, directly to your inbox every morning.

Editors Choice

Also in World News