Hornby PLC, the London-listed models and collectibles group, announced a 5% increase in sales for the third quarter of the fiscal year. This growth was primarily driven by the strong Black Friday activity, positioning the company on track for on-year growth.
Rising Revenue and New Customers
In November, Hornby experienced a significant boost in revenue, with a 10% increase compared to the same month the previous year. Additionally, over 50% of Black Friday transactions were made by first-time buyers, indicating a growing customer base.
Impressive Direct-to-Consumer Sales
Hornby also reported that direct-to-consumer sales for the third quarter, ending on December 31, have surged by 30%. This rise can be attributed to the company's focus on strengthening its direct sales channels.
Margin Increase and Web Traffic Impact
The company witnessed a rise in margins, increasing from 43.8% to 46% since the previous half-year report. This growth has been fueled by the expansion of direct-to-consumer activities and a consequent uplift in web traffic resulting in additional full-price sales.
Positive Outlook for Future Growth
Chief Executive Olly Raeburn expressed satisfaction with the company's progress on their key strategic initiatives. He stated, "We continue to make good progress on our key strategic initiatives and look forward to a return to profitable growth in the next financial year."
