Angling Direct reopens storefronts, reports strong Black Friday trading
Fishing tackle retailer Angling Direct reopened all 38 of its storefronts on Wednesday following the lifting of government restrictions and stated that recent trading over the Black Friday weekend had been a "success".
Angling Direct said its webstore had continued to trade uninterrupted throughout the November lockdown, whilst all retail sites offered customers a "Call and Collect" service to help meet consumer demand and prioritise profitable growth.
The group stated that it saw sales growth across all channels for the nine months ended 31 October, up by 30.5% year-on-year to £54.5m, and added that trading over the Black Friday period in the last week of November was "a success".
Angling Direct also highlighted that it did not need to utilise Downing Street's job retention scheme during the period.
As a result of its strong trading throughout the lockdown, as well as the enhanced visibility over operations as stores reopened, Angling Direct now believes it will likely exceed current market expectations with a forecast pre-IFRS 16 underlying earnings outturn for of not less than £3.8m in the 2021 trading year.
However, Angling Direct added: "Whilst the board is confident that its market-leading position, strategy and resilient business model positions it well for further profitable growth, ongoing uncertainties relating to the pandemic and Brexit mean that the Board will continue to adopt a prudent approach to planning for the next financial year."
As of 1320 GMT, Angling Direct shares were up 7.22% at 67.55p.