Peacocks profits are flying high
COST-conscious shoppers helped discount fashion group Peacocks produce one of the smartest sets of figures on the High Street, pushing its half-year profits up by 186% to £11.5 million.
Like-for-like sales growth of 8.3% far exceeded most of its rivals' figures amid a boom in the £4.4bn-a-year value sector.
The overall clothing and footwear market grew only 2% over the past year, but the discount sector advanced by 12%. Peacocks, which acquired bonmarché last year, is the third-largest, behind George and Matalan, with a market share of 11%.
Peacocks chief executive Richard Kirk said performance had been boosted by store refurbishments and more-fashionable ranges. Group sales for the 26 weeks to
27 September, including a full contribution from bonmarché, jumped by 43% to £230.6m. The interim dividend is raised by 39% to 2 1/2p.