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Kitbag owner sees sales rise as turnaround strategy gains pace

Home shopping group Findel, which owns online branded sports retailer Kitbag, reported a 8% increase in year on year in the 16 weeks to July 25 as its turnaround gained traction.

Football etailer Kitbag returned to sales growth and cash margin advanced over the period.

It has also won a new contract to manage the online retail operations for the French Open Tennis Championship from March next year.

Findel reported: “We are encouraged by trading, which suggests that our turnaround programme is gaining traction.

“Whilst the peak sales periods for the group are still to come and we remain cautious of the continuing pressures on consumer and government spending, we expect the current positive trading trends to continue.”

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