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Peacocks delivers strong fourth quarter

Peacocks saw like-for-like sales climb 8.3% for the 14 weeks ended March 28, as the value fashion market continues to buck the consumer downturn.

Peacocks said total sales grew by 15.2% over the fourth quarter period and that like-for-like gross profit grew 15.5%. Margin was also ahead.

Peacocks said that growth came from all categories, with its core womenswear and accessories ranges performing particularly strongly. It added that its spring 09 collections had been well received.

“Our success in a more difficult trading environment reflects our ability to deliver unbeatable value by combining quality, style and low prices. “

Richard Kirk, chief executive, Peacocks

Peacocks opened five stores over the quarter, taking its total store count to 524. It said it planned to ramp up store openings from 32 last year to 40 this year.

Its website also delivered strong sales growth as lingerie and menswear were added to the offer.

The value fashion chain said that its 73 international franchise stores had also delivered strong sales and profit growth. It has stores in Russia and the Ukraine and it recently opened its first stores in Romania and Gibraltar.

Peacocks chief executive Richard Kirk said, “We have achieved excellent momentum during the course of the year. Our success in a more difficult trading environment reflects our ability to deliver unbeatable value by combining quality, style and low prices. We have many development opportunities in the UK and internationally and look forward to building on the progress we made last year.”

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