Peacocks said that “cracking” Christmas trading at the value group was boosted by the success of its Pearl Lowe for Peacocks party dresses.
Like-for-like sales at Peacocks rose 8% in the eight weeks to January 2, with a 17% spike in December and early January. Total sales over Christmas rose 13%.
Kirk said he was “delighted” with the success of the collaboration with Lowe. He said that the designer’s dresses - which were modelled by Lowe’s daughter, model Daisy Lowe - “have flown out of the stores”. The range included five party dresses for the festive season. Peacocks added that it is poised to launch new ranges for spring.
Kirk added that the retailer’s ability to react quickly to fashion trends combined with its value offer drove profitable growth over the period. The retailer reported enhanced margins and controlled stock well in to the Sale period. Peacocks said this was supported by better-than expected consumer confidence, particularly in the colder period immdeidately before Christmas.
“Peacocks has enjoyed a cracking Christmas as customers decided they were going to celebrate after a year of doom and gloom.”
Peacocks chief executive Richard Kirk
Online sales rose 70% during the period and the retailer saw “significant” profit growth from its online business and “continued excellent” sales and profit growth from the international franchise business.
Peacocks has 84 international franchise stores and 546 stores in the UK. It opened 28 UK stores in the nine months to December. The retailer is set to open around 40 new stores in 2010/2011, up from around 30 opened in the previous year.
Peaocoks will not pass on the increased VAT rates from January 2010 through higher prices to customers.