Like-for-like sales up 9%.
Shaver Shop has released a trading update for the first 16 weeks of FY18 with like-for-like sales up 9.9% and 3% underlying like-for-like sales growth.
The solid start to FY18 was attributed to a successful Father’s Day campaign and start to October. The retailer is also confident with its Christmas program, including an expansion of its wet shave range and long term hair removal, as well as beard trimmer innovation and Philips Star Wars branded shavers.
Shaver Shop CEO and managing director, Cameron Fox said, “In men’s electric shavers, we have a largely exclusive range of Philips Star Wars branded shavers that we believe will be attractive to both younger and older generations. We also have new and exclusive electric shavers coming through from Braun and Remington which we believe will be solid contributors.
“In beard trimmers, a category that has been very strong for a number of years, we launched the Remington Durablade exclusively prior to Father’s Day. With limited reach TV advertising campaign over Father’s Day, we saw significant sales from this product so with a broad reach television campaign leading into Christmas, we are excited by the potential of this product.
“Men’s body grooming has also shown very encouraging signs over the recent weeks and months. The launch of an exclusive, innovative Panasonic body groomer around Father’s Day, complemented by the introduction of a new brand within this category.
“Oral-B and Philips are both very active in the power oral care space in the lead up to Christmas 2017 with a strong investment in above the line marketing spend a plethora of product innovation, such as the Oral-B Genius Rose Gold and Philips Sonicare Diamond Clean Connected.
“Overall, I am pleased with the way our Christmas and Boxing Day programs are coming together as we enter the most important trading period of the year for Shaver Shop.”
Shaver Shop will open seven more stores prior to Christmas and one in 2H FY18 with two franchise buybacks locked for 1H FY18 with in principle agreement (subject to legal documentation) for two further buybacks.