LONDON (BRAIN) — Wiggle's sales for the 12 months that ended in February 2015 totaled £179 million ($276 million), up 11.5 percent from the prior period, the company announced Friday.
The online retailer, which sells bike, running, swim and triathon gear in more than 70 countries, reported that sales were up 26 percent in the U.K. and 20 percent in Europe over the period, but down 13.1 percent in the rest of the world. The figures are derived on a constant exchange rate basis. While not releasing sales data since February, the company said its momentum has continued since February.
The company said that during the period, it had a successful launch of Wiggle Legal. The service offers legal help to cyclists who were injured or had equipment damaged in accidents. Since last February, Wiggle has appointed Brian McBride as chairman in March and transitioned to a new 323,000-square-foot contralized warehouse in Birmingham. It also launched a new insurance program
Stefan Barden, Wiggle's CEO, said, "Wiggle's total and relentless focus on customer satisfaction continues to underpin our above market growth rates. We are also working hard to be our branded suppliers' preferred online partner. We continue to invest in the business, driving down costs through investment in our new warehouse and also by simplifying our business, reducing the work we do and automating wherever possible. We have many growth opportunities ahead and remain confident in the future performance of the company."
Wiggle offers about 50,000 SKUs from more than 700 third-party brands as well its private-label brands dhb, Verenti and Lifeline. The company has about 500 employees. Wiggle traces its history to a small bike shop called Butler Cycles, founded in the 1920s. It was relaunched in 1999 in Portsmouth and was acquired by the private equity investment company Bridgepoint in December 2011.