Skip to main content
  • Register
  • Help
  • Contact us
  • Log out of your HL account

Angling Direct opens 30th UK store; summer trading solid

Mon 16 September 2019 13:21 | A A A

No recommendation

No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

(Sharecast News) - Fishing retailer Angling Direct said on Monday that trading over the summer was solid as it announced the opening of its 30th UK store in Milton Keynes.

The company said it traded well between 1 June and the end of August, with high footfall across its store network and record unique user numbers online. In-store like-for-like sales grew 13.3% during the period and 26.7% online, with August being a record sales month for the company. It generated £5.5m of turnover, with online sales up 40% on the year.

Turnover in the three-month period was up 31% on the previous year overall and the trend continued into September.

Chief executive officer Darren Bailey said: "The summer trading conditions have been favourable with the weather having been good. We were delighted that both our established and new stores experienced strong footfall, which was backed up by strong like for like sales both in-store and online, delivering a record month in August."

The company said that its new Milton Keynes store, which started trading on Saturday, is in a "hugely popular" fishing area, with a large angling community and a series of lakes and river venues.

It's the only fishing tackle "destination store" of its kind in the area, it said, located just south of the town on a major retail park.

At 1320 BST, the shares were up 6.2% at 64.25p.

    The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.


    More company news from ShareCast