The Works has raised its profit expectations for the second time this year after like-for-like sales rose 9.8 per cent in the first half.
In a trading update for the 26 weeks to 1 November 2026, the retailer of arts and crafts, books, toys and games said total sales from continuing operations rose 10.1 per cent to £128.8m, from £117.0m a year earlier. Like-for-like growth compares with 4.0 per cent in the same period last year.
Key points
- Growth came across all core categories, with strong Back to School and Halloween trading.
- Product margin was 62.7 per cent, against 62.5 per cent.
- The group ended the period with £3.5m net cash, against net debt of £5.3m a year earlier.
- The Works now expects pre-IFRS 16 adjusted EBITDA of at least £17.0m for the year, ahead of market expectations.
- Together with an upgrade on 7 September, that is an increase of more than 13.0 per cent since the start of the financial year.
The Works compared its performance with British Retail Consortium data showing a 1.0 per cent like-for-like decline in non-food store sales over the six months to 31 October 2026.
The figures exclude online sales. The board decided on 20 March 2026 to stop trading through its online channel and move to a non-transactional website, so online performance is reported as a discontinued operation.
Chief executive Gavin Peck said the result reflected the year-round appeal of the retailer’s screen-free range and its simplified, store-focused model, and that the business was well positioned for Christmas.
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