Gear4music reports strong Christmas trading

Gear4music'schiefexecutive, Andrew Wass
Gear4music'schiefexecutive, Andrew Wass
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Musical instruments retailer Gear4music has reported strong Christmas trading and said 2020 profits are expected to be in line with board expectations or better.

The York-based firm, which is the UK’s biggest online retailer of musical instruments and music equipment, said gross profit rose 18 per cent to £8m in the two months to December 31.

Gear4music's chief executive, Andrew Wass, said: "I am very pleased to report a successful peak trading period, that reflects the commercial and operational progress we have made across the business during the last calendar year."

He said the group's upgraded infrastructure demonstrated its resilience and capacity over the Black Friday to Cyber Monday weekend.

"We comfortably dispatched over 26,000 consignments, which was 34 per cent more than last year's Black Friday weekend," he added.

"Our three distribution locations have the capacity headroom required to achieve our medium-term objectives without the need for further significant investment, as we return to focusing on and delivering new growth orientated projects.

"We are pleased to report that as a result of our focused strategic and operational initiatives, profits for the current financial year are expected to be at least in line with the board's expectations.

"We remain confident in the medium to long term growth opportunity, whilst continuing our focus on improving gross margins and sustainable profitability."