Young fashion chain Republic reported like-for-like sales up 11% in the eight weeks to January 4, with total sales climbing a massive 23.6% to £51.2 million.
Republic said that its performance represented a record Christmas for the business, which sells a mixture of branded and own-brand merchandise.
Internet sales also showed strong growth, rising by 38.8% over the eight week period.
“Without doubt our Christmas trading performance capped another successful and record breaking year for Republic.”
Republic chief executive Tim Whitworth
On a two-year basis, sales were ahead 46.6% and like-for-like sales increased by 16.7%.
Margins were also ahead and Republic said that its Sale was planned to end this Sunday, one week earlier than last year.
As a result of the strong Christmas performance, Republic said that full year sales to January 31 would finish at in excess of £200m and EBITDA would be in excess of £30m.
Republic chief executive Tim Whitworth said: “Without doubt our Christmas trading performance capped another successful and record breaking year for Republic. The market conditions and prior year performance of the business (which in itself was a record) indicated that securing such strong growth over the key Christmas 2009 period would be challenging.”
“We worked hard to exceed our customers’ expectations with our unique range of ‘must-have’ fashion, delivered in a distinctive environment, supported by excellent customer service…I would like to take the opportunity to thank everyone at Republic along with our extended partners for their commitment in the Republic brand.”
“Despite the wider economic challenges, the roll-out potential of the brand, unique market position, strong cash generation and talented team behind the brand will ensure 2010 continues the strong track record of growth”