The largest UK based online retailer of musical instruments and music equipment has reported an 80% increase in UK sales
The eCommerce firm reports £21.3m in UK sales for the three months to 30 June 2020, from £11.8 in the previous year.
Across the rest of the world, the firm reports a 55% sales growth, leading to a 68% total sales growth in its first quarter.
The firm operates from its head office in York with distribution centres and showrooms in York, Sweden and Germany.
The company’s board said its annual results are now expected to be ahead of expectations.
“The strong trading momentum has continued into July, and we continue to achieve higher gross margins and with a lower marketing cost than we would typically expect, alongside a controlled cost base,” said Gear4music CEO Andrew Wass.
“As a result, and whilst still early in the current financial year, the Board is confident that a significant improvement in profits will be achieved for the full financial year, which are now expected to be meaningfully ahead of our previous expectations.”