Gear4music sales rise by 42%

Online musical instrument and music equipment retailer Gear4music's sales rose by 42% in the four months to the end of December with continuing strong growth into the UK and Europe.

On a two-year basis, sales growth was 120%, ahead of the 114% for the corresponding period last year.

The group said both own-brand and other-brand revenues grew by 42% during the period.

Active customer numbers up by 38% to 450,000 at 31 Dec compared with a year ago and website conversion improved to 3.3% in the period, up from 3.0% last year.

Chief executive Andrew Wass said: 'We are very pleased with our trading performance over the last four months, with sales growth of 42% building on the 44% achieved in the first half, and trading for the year to date is in line with the board's expectations.

'This has been achieved as we continue to invest in our customer proposition, marketing, people and websites, all with a view to enhancing our long-term growth prospects.

'Growth in our more established UK market has remained strong alongside very strong growth in our international markets which are being further driven by an improved delivery proposition as we continue to scale up our European hubs.

'Our Swedish distribution centre now fulfils over 50% of all our Scandinavian orders, and our German Distribution centre, which became operational just 10 months ago, dispatched over 800 orders on its busiest day in December.

'We are confident that the Group will continue to grow rapidly over the medium and longer term, as we continue our mission to become the best musical instrument and equipment retailer in Europe.'