Angling Direct PLC New Store Opening and Summer Trading Update (3598M)
September 16 2019 - 2:00AM
UK Regulatory
TIDMANG
RNS Number : 3598M
Angling Direct PLC
16 September 2019
16 September 2019
Angling Direct plc
("Angling Direct" or the "Company")
New Store Opening and Summer Trading Update
Angling Direct plc (AIM: ANG.L), the largest specialist fishing
tackle and equipment retailer in the UK, is pleased to announce
that it has opened its 30(th) UK store in Milton Keynes, which
began trading on Saturday 14 September 2019.
The new store offers a 6,500 sq ft. display area and is located
just off the A5 at Winterhill, a major retail warehouse area, south
west of the City Centre, the store is also approachable from the M1
which is 3 miles to the east.
Located in a hugely popular fishing area, with a large angling
community and a series of lakes and river venues, the store is the
only fishing tackle "destination store" of its kind in the area. As
with all Angling Direct stores, it caters for a wide range of
angling disciplines, whilst also providing excellent service from
local and knowledgeable staff. The new store is creating five full
and three part-time positions.
Summer Trading Update
Angling Direct has traded well during the summer period (1 June
2019 to 31 August 2019) with high footfall across its store network
and record unique user numbers online. The Company achieved 13.3%
like-for-like sales growth in-store and 26.7% online over this
period with August being a record sales month for the Company,
generating turnover of GBP5.5 million and online delivering a 40%
increase against August 2018. The three-month period (1 June 2019
to 31 August 2019) is up 31% overall on the previous year, with the
trend continuing well into September.
Angling Direct's Chief Executive Officer, Darren Bailey,
commented:
"We are very excited to have opened our Milton Keynes store,
located just south of the town on a major retail park. Milton
Keynes is a very popular angling region and the new store offers
products for all disciplines of angling whilst also housing a full
size Pole alley.
"As we seek to cater for all anglers across the UK with a new
and modern retail offering, we are continuing to strategically
expand our store footprint, as well as enhance our online offering
in terms of products, experience and education in order to help
raise the profile of angling.
"The summer trading conditions have been favourable with the
weather having been good. We were delighted that both our
established and new stores experienced strong footfall, which was
backed up by strong like for like sales both in-store and online,
delivering a record month in August."
For further information:
Angling Direct PLC +44 (0) 1603 258658
Martyn Page, Executive Chairman
Darren Bailey, Chief Executive Officer
Cenkos Securities - NOMAD and Broker
Stephen Keys (Corporate Finance)
Russell Kerr (Sales) +44 (0) 207 3978900
Yellow Jersey PR - Financial PR +44 (0) 203 004 9512
Charles Goodwin +44 (0) 7747 788 221
Harriet Jackson
Annabel Atkins +44 (0) 7544 275 882
Notes for editors
About Angling Direct plc
Angling Direct is the largest specialist fishing tackle retailer
in the UK. The Company sells fishing tackle products and related
equipment through its network of retail stores, located throughout
the UK, as well as through its own website
(www.anglingdirect.co.uk) and other third-party websites.
The Company currently sells over 21,500 fishing tackle products,
including capital items, consumables, luggage and clothing. The
Company also owns and sells fishing tackle products under its own
brand 'Advanta', which was formally launched in March 2016.
From 1986 to 2003 the Company's Founders acquired interests in a
number of small independent fishing tackle shops in Norfolk and, in
2003, they acquired a significant premises in Norwich, which was
branded Angling Direct. Since 2003, the Company has continued to
acquire or open new stores, taking the total number up to 30 retail
stores. In 2015 the Company opened a 30,000 sq ft central
distribution centre in Rackheath, Norfolk, where the Company's head
office is also located.
Angling Direct's shares are traded on the AIM market of the
London Stock Exchange under the ticker symbol ANG.L.
For further information, please visit
www.anglingdirect.co.uk
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END
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