Rox

Rox turnover flat in 2019 financial year ahead of significant store openings

Sales growth flat as strong core business performance affected by weakness in Aberdeen and Glasgow’s Braehead.

Rox (UK) Limited has reported sales of £14.9 million for the financial year ended March 31, 2019; virtually unchanged from the prior year.

Gross profit margin improved slightly but, because of an additional £168,000 of “other operating income” in the 2018 financial year, operating and profit slipped from £301,352 to £134,614.

Co-managing director Kieran Keogh said in a note accompanying the financial results that all stores had positive like-for-like growth in 2018/19, except for Aberdeen and Braehead (a shopping centre in Glasgow).

The Braehead store was closed in June, after the end of the financial year.

Like-for-like sales at the remaining stores in Glasgow, Edinburgh, Leeds and Newcastle were up by 3.2%.

The group’s watch business also delivered like-for-like sales growth from a portfolio that includes Audemars Piguet, Hublot, Chopard, TAG Heuer and Zenith.

“Investment continued to be made to provide our customers with an extraordinary shopping experience within a luxury environment supported by well-trained, professional staff. Continued investment has been made in the website and in store events,” Mr Keogh describes.

Since the end of the 2018/19 financial year, Rox has opened a new stores in Liverpool One (pictured top), anchored by Hublot, and in Glasgow’s Argyll Arcade, where its original flagship showroom is also located.

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