Cox and Cox sees FY sales up 75%
Reacting to the increased number of people working from home on a more permanent basis, the retailer revealed desk sales alone were up 831% and office chairs up 2036% in Q4
Homeware retailer Cox and Cox has reported a “strong” Q4 that saw sales up 85.4% up on the previous year, rounding off another year of growth for the firm with sales up 74.5% for the full year.
While exact sales figures were not given, in its latest trading update the retailer said it experienced a 68% increase in the volume of orders compared to the Christmas period in the previous year, and thanks to “effective” Christmas planning, led to an “even sharper” increase in EBITDA.
It said that furniture continued to perform well at +149% YOY, with demand for home office furniture high as many businesses plan for a more hybrid approach to working post-lockdown.
Reacting to the increased number of people working from home on a more permanent basis, the retailer revealed desk sales alone were up 831% and office chairs up 2036% for the final quarter of the year.
In addition, during the Q4 period Cox and Cox said that site users increased by +116% YoY. Meanwhile, mobile sales continued to see a “strong uplift”, with 48% of revenue coming from a mobile device in Q4, up from 38% in the same period in 2019.
CEO Richard Bell said: “We have improved revenue per customer in every cohort, while more than halving the cost per acquisition for new customers. All departments continue to trade up, and we’ve added over 400 new lines for the SS21 launch, with more to come.
“With Government warnings that lockdown measures are likely to extend beyond March, and advice not to book Summer holidays, we expect another year of staycations, garden living, and working from home.”
He added: “We have planned meticulously to cater for the needs of our ever growing design-conscious customer base to ensure we can provide them with the products they need to make the most of this new way of living.”
