Sales success in 2020 half-year results
We have recently reported our half-year figures, which show we have achieved sales in excess of £23 million from January to June 2020 – an impressive performance in the current economic climate, and one of which we’re very proud.
As well as seeing an excellent sales performance, profit at CMOStores.com is up by 126 per cent when compared to the same six month period in 2019. This means that we are well-placed to close the year with increased revenues and profits across the group.
The uplift in sales in early 2020 meant that while other businesses were battening down the hatches in readiness for a difficult trading period, we were able to not only retain all staff on full-time contracts without using the government’s Job Retention Scheme, but we actively recruited new personnel during this time.
Commenting on the company’s half year results, CMOStores.com’s chief financial officer, Sue Packer, said: “We’re very proud to have achieved such excellent results at what has been a challenging time for many within the industry. As an online business, we have the agility to adapt quickly to a change in market conditions, and this year that meant not only pivoting to remote working – which we managed with zero downtime within a matter of days – but bringing in additional colleagues to help us manage the increased demand.”
We have continued our growth trajectory of the past two years despite the UK’s lockdown measures, as homeowners used the period to work on large-scale home improvement projects and turned to our six e-commerce ‘superstores’ for their supplies.
However, the strong performance began before the change in customer habits, which we largely attribute to our investment in improving customer service, with a focus on seamless and reinvigorated user experience, and our roll-out of our onsite personalisation solution which makes it easier for customers to find the products they need for their projects.
Sue added: “This commitment to putting the customer first, and anticipating their needs and priorities, has been proven to be the correct strategy for us, as our half year results demonstrate. Sales and profits have exceeded our expectations for the half year, and we have seen good results for our individual superstores too; in particular, our newest addition to the offering, the Doors Superstore, has achieved 30 per cent growth since the first half of 2019.”
We will continue to invest in our customers and people, with the aim of sustaining our growth in sales throughout the remainder of 2020 and into 2021.
For more information visit https://www.cmogroup.com/. You can also follow CMOStores.com on LinkedIn, Twitter and Facebook for all the latest information.