Angling Direct PLC New Store Opening and Trading Update (6940W)
23 April 2019 - 4:00PM
UK Regulatory
TIDMANG
RNS Number : 6940W
Angling Direct PLC
23 April 2019
23rd April 2019
Angling Direct plc
("Angling Direct" or the "Company")
New Store Opening and Trading Update
Angling Direct plc (AIM: ANG.L), the largest specialist fishing
tackle and equipment retailer in the UK, is pleased to announce
that its new Nottingham store opened on Friday 19 April 2019,
bringing the total number of Angling Direct stores across the
country to 27 and further strengthening Angling Direct's presence
across the UK.
The Nottingham store, which was previously occupied by Majestic
Wines, occupies a 4,500 sq ft. display area and is located north of
the main town, in Daybrook, and can be easily accessed via the A60
and other arterial roads.
It is the first fishing tackle "destination store" of its kind
in the Nottingham area, located in a popular fishing area with
strong angling communities, near the river Trent. The store caters
for a wide range of angling disciplines, whilst also providing
excellent service from the Company's local and knowledgeable
employees. The new store will create five full and three part-time
positions.
Angling Direct is pleased to announce that it has enjoyed a
record start to the year, with both the store network and
e-commerce generating robust sales growth. The Company continues to
improve and invest in the customer experience, which is reflected
in the performance of its stores. Across all stores, like-for-like
sales were up by 29.5% in February and March, and overall sales
were up 28.5% compared to the previous year. Meanwhile, online
orders for January and February were up by 27%, compared to the
previous year, and the German, French and Dutch websites are also
performing well, leading to a 66% jump in European sales. The
Company's UK store roll out programme remains on track, with
further stores in the pipeline for 2019.
Angling Direct's Chief Executive Officer, Darren Bailey,
commented:
"We are very excited to have opened our Nottingham store, which
is set in a very popular angling area near the river Trent. The
location also offers a good number of local lakes which all cover a
broad range of fishing disciplines.
"As we seek to cater for all anglers across the UK with a new
and modern retail offering, we will continue to strategically
expand our physical geographical footprint, as well as enhance our
online offering in terms of products, experience and education in
order to help raise the profile of angling.
"Whilst other areas of the retail sector may be experiencing
difficulties, we are delighted that our strategic focus on customer
experience and service, as well as positioning our stores in the
correct locations, is driving our growth and brand value. We look
forward to updating the market on our further progress in due
course."
The Company looks forward to reporting its Full Year Results for
the 12-month period ended 31 January, 2019 on Monday 13 May,
2019.
An analyst briefing will be held at 9.30am on the morning of the
Company's results at Cenkos Securities offices, 6-8 Tokenhouse
Yard, London EC2R 7AS. To attend please email
angling@yellowjerseypr.com.
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 3978926
Yellow Jersey PR - Financial PR
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 27 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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