Gear4Music reports rise in sale

Strong European sales growth during 2016 was in part driven by competitive pricing the York-based company said. Gear4Music said over 190,000 new customers were added in the year.

Andrew Wass, chief executive officer of Gear4Music, said: “We have been extremely pleased with the trading performance of Gear4music over the year. It’s been a pivotal 12 months for the business as we’ve been able to deliver strong growth in both the UK and Europe, whilst completing our IPO.

“We continue to execute our strategy with proceeds from the IPO invested into stock, systems and website improvements which, combined with the hard work of our growing and talented team, has helped us to significantly increase our market share. This has resulted in revenues and profits for the financial year being at the higher end of the board’s expectations.

“We believe that the Company is well capitalised and well positioned to continue implementing our profitable growth strategy, as we build on the success of our UK and international expansion with a constantly improving customer proposition.”

Following a successful trial over Christmas, seven days a week dispatch and delivery has been continued across a large range of products, and continues to drive sales volumes and positive customer feedback Gear4Music said.