Gear4music shares fall as sales hit by 'unusually prolonged period of hot weather'
Shares in York-based musical instrument retailer Gear4music have fallen after it said sales growth was hit by this summer’s hot weather.
A statement from the company’s executive chair Andrew Wass was released to shareholders on Tuesday morning in advance of the firm’s AGM in the afternoon.
He said despite sales growth being affected by the weather over summer, trading this financial year is “in line with expectations”. Market expectations for the current 2026/27 financial year for the company were of revenues above £200m, EBITDA of £16m and profit before tax of £6m.
Shares in the company were down by seven per cent in early Tuesday trading.
Mr Wass said: "Trading during the financial year to date is in line with the Board's expectations, with sales for the five months to August 31 2026 up 7.3 per cent year on year.
"We are pleased with this progress, particularly given that sales growth moderated during July and August amid an unusually prolonged period of hot weather, and against the very strong growth achieved in the corresponding period of FY26.
“The group intends to issue a trading update for the six months to September 30 2026 on October 20 2026, followed by publication of half-year results on November 17 2026."
Operating from a head office in York and with distribution centres in York, Bacup, Sweden, Germany, Ireland and Spain, and showrooms in York, Bacup, Sweden and Germany, the group sells own-brand musical instruments and music equipment alongside premium third-party brands including Yamaha, Roland and Fender.