A successful start to its collaboration with Pearl Lowe, the musician-turned-fashion designer, helped Peacocks, the fashion value retailer, to solid Christmas trading.
Peacocks, which has 546 stores in the UK, said that like-for-like sales in the eight weeks to January 2 were up 17 per cent on the same period last year. Sales overall rose by 13 per cent.
Richard Kirk, the chief executive, said that consumer confidence was better than expected before Christmas, while sales were also boosted by the “Pearl Lowe for Peacocks” range.
He said: “Peacocks has enjoyed a cracking Christmas as customers decided they were going to celebrate after a year of doom and gloom. We were particularly delighted with the success of our ‘Pearl Lowe for Peacocks’ Christmas dresses, which have flown out of the stores.”
Mr Kirk said that further new ranges by Ms Lowe — a singer with Powder and Lodger, the Britpop bands — were planned for the spring/summer season.
Meanwhile, BrightHouse, Britain’s biggest rent-to-own retailer, has heralded supply chain improvements after it reported a 9 per cent increase in like-for-like sales over Christmas.
BrightHouse, which allows customers to pay for electricals, homewares and furniture over time, said that improved buying and availability had helped over peak trading.
In total, sales rose 21 per cent to £50.5 million during the 13 weeks to December 24. Mr McKee said that moving some furniture sourcing back to Britain had made it easier to respond to changes in demand. The company said that it was on course to open 20 new stores in the year to the end of March. It has 190 stores.
BrightHouse has earned criticism from consumer groups for exorbitant rates of interest. Mr McKee argues that its APR on hire purchase is in line with mainstream retailers once insurance is taken account of. He has also attempted to cut the cash price of items to move them closer to those found at other retailers.
BrightHouse is owned by Vision Capital, the private equity fund that owned First Quench Retailing, the collapsed owner of Threshers, Wine Rack and The Local off-licence chains.
source:http://business.timesonline.co.uk/tol/business/industry_sectors/retailing/article6982888.ece
