Angling Direct sales soar as lockdown easing releases pent-up demand

Fishing equipment seller Angling Direct reported a surge in demand since its stores started reopening in June.

The company on Tuesday said it expected to benefit from ‘staycations’ during the rest of the summer as UK government quarantine restrictions deterred holidaymakers from travelling abroad.

It added that the lockdown created “an exceptional sales period, with pent-up demand certainly experienced as a consequence of fisheries being closed for almost two months”.

Revenue for the six months to July 31 grew 21% to £32.1m, despite stores being closed for almost three months when the lockdown was imposed in March.

Online sales surged 43% to £17.9m, driven by strong growth in the UK, Germany, France and the Netherlands. Like-for-like store sales fell 23% as outlets closed, but recorded a recovery as all shops reopened, delivering like-for-like sales growth of 75% in the six weeks to the end of July.

The company said it expected sales to revert to more normal trading patterns during the remainder of the year, dependent on no further restrictions in the event of a second outbreak.