Shaver Shop bucks the retail trend to achieve significant sales growth

Shaver Shop (ASX: SSG) has proved that not all Australian retailers are suffering in a challenging market, after it revealed its significant sales growth during the first-half.

The listed retailer announced its results for 1H18 on Friday, which saw total sales grow 19 per cent to $93.4 million.

Net profit after tax also grew by16.9 per cent to hit $8.1 million.

Managing director and CEO of Shaver Shop, Cameron Fox, says the results are testament to the group's unique business model.

"We are pleased to have delivered record sales and earnings, as well as a 5.5 per cent growth in same store sales in the first half, despite the challenging retail environment," says Fox.

"We have a robust business model and are excited by the opportunities we see for the group, particularly in growing the number of female customers with more female focused brands."

The group saw particular success online, with total online sales up 66.6 per cent in 1H18. Online sales represented approximately 10 per cent of total network sales.

The company says it will continue to invest in the e-commerce space as it executes a new series of omni-channel marketing plans.

The group's push to increase the number of products for female customers also paid off in the first-half. Read more

David Simmons - Business News Australia - 23 Feb 2018