The Works CEO on its performance since scrapping ecommerce
Discount retailer The Works saw profits soar 47 per cent to £14 million in its latest full year results, as stronger sales, improved margins and cost savings helped to offset its higher wage and tax costs.
The brand attributed its performance to its “screen-free” strategy paying off. It also noted that supplier negotiations, tighter stock controls, improved promotional markdowns and a more favourable product mix helped to boost its margins.
The results come after The Works opte