Express Gifts owner Findel sales increase 3.9% in first quarter

Express Gifts sales jumped 8% over the period as customer numbers grew as it begins the run up towards its Christmas peak. The retailer said the majority of the sales growth came from existing customers and retention rates improved by 5%.

Catalogue retailer Kleeneze sales declined 1.4% with an improving trend in recent weeks compared with a 8.4% decline last year.

Sports etailer Kitbag’s sales dipped 4% which the company said was in part due to a strong comparative period last year when the Euro Football Championship took place, the build-up to the Olympics had begun in earnest and one of its football partners had achieved significant success on the field.

Kitbag has been awarded the contract for onsite retail management at the Ryder Cup in 2014. The retailer’s overseas expansion continues to “show promise” with 11 international local language sites for its partners in the last three months.

Findel chairman David Sudgen said: “Findel continues to make excellent progress with further potential to be delivered in all group companies. At the full-year results in June, the group set a goal of achieving 7 to 9% group operating margin in the medium term. The strong performances of Express Gifts support the board’s ambition to enter this range in the financial year commencing April 2014.”