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Sale Growth For Jessops - In a time when many stores are struggling, photographic retailer Jessops has some good news.
Jessops have reported that their sales for the 52 weeks to 1 January 2012 grew by 3% to £236.8m with a like for like sales growth of 1.3%.
Sales growth was accompanied by margin improvement and strong cost control resulting in an increase in EBITDA from £4.0m in 2010 to £5.7m in 2011.
Jessops has continued to drive market leading shares in the DLSR, CSC, Lens and Accessories categories and saw significant growth in the DSC category too. Jessops experienced 13 months of consecutive market share growth in the Total Digital Still Cameras Sector*.
Their online business grew by 79% in the year, with the online store now accounting for 32% of total business.
Jessops say the positive results come after the company made a 'significant investment in staff training and knowledge, a commitment to invest in the refurbishment of the store portfolio and further development of the online platform.'
During the year, the company also refurbished 20 'black' stores and 6 new stores were opened. Jessops say they refurbished and relocated stores 'delivered an uplift of over 20% on pre-refurbishment sales. The new stores have widened Jessops appeal, retaining existing customers and attracting more younger, older and female customers to the store.'
Trevor Moore, CEO, Jessops said: "2011 was a difficult year for retailers and 2012 is expected to remain challenging. Jessops will continue to develop its knowledge and service based proposition by investing in its people. We will work to optimise our store portfolio and invest in a further 25 store refurbishments.
The online platform will be evolved to include a new mobile and integrated photo platform. Jessops will continue to work closely in partnership with its suppliers to present new technology and innovation to the market with the aim of being the best channel to market for our suppliers and the first choice destination for all our customers imaging needs. We remain cautiously optimistic in the outlook for 2012."
*According to the GfK Photo Panelmarket April 2011 to April 2012 in value terms, compared to the same period the previous year. Total Digital Still Cameras is the aggregation of DSLR, CSC and Compact.