Strong half for Studio Retail Group


Strong half for Studio Retail Group

In its interim results for the 26 weeks ended 25 September 2020, Studio Retail Group (SRG) reported a 17.2 per cent increase in its group revenues due to increased demand and growth of the Studio base.

Studio’s active customer base grew by 15 per cent to 2.1 million at the end of September, 1.4 million of which had an active credit account. Subsequent growth during the third quarter has increased the total and credit customer bases to 2.3 million and 1.5 million respectively. There have been over 850,000 Studio App downloads since launched it was launched in October 2019 and 20 per cent of purchases are now being made via this channel. Online ordering levels for the first half were also up to just over 91 per cent from 81 per cent in the previous year.

Phil Maudsley, Group CEO said: “I am very proud of the way that this group has responded over the past few months to the challenges of Covid-19. These interim results are testament to the strengths of our digitally focused value business and the ability of our colleagues and customers to adapt rapidly to change.”

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