Cox & Cox reports strong quarter as homeware market booms

Online homewares retailer Cox & Cox has reported a 59% year-on-year increase in sales for its second quarter as consumer demand in its focus category shows no sign of slowing down.

The digital brand, which hasn't released its full figures, said customer orders were up by 75% year on year, with outdoor living and furniture products driving the growth. It followed similar growth in the first quarter of its financial year.

Desks, office chairs, and shelf units proved popular as consumers created their more-permanent home office spaces during the coronavirus-enforced lockdown. Cox & Cox also recorded a boost in sales of hanging chairs, coinciding with prolonged warm weather over the period.

May sales alone were 96% up on last year, representing the peak month for the retailer.

Richard Bell, who was appointed CEO of Cox & Cox in October last year, said: “This is a very strong set of results, and we have continued to grow share and improve customer performance throughout the quarter.

“Most encouraging is the way that the business has responded to the ‘golden problems’ that running ahead of forecast has created, developing and executing solutions quickly and collaboratively.”

The company said its decision to keep marketing “aggressively” paid off, with new customer acquisition more than doubling during the quarter. Customer retention increased by 25% during the three-month period, too.

New ranges are being launched in the build-up to Christmas, following on from the roll-out of its first paint product earlier this year.

“We go into autumn with a much bigger, more engaged base than we were expecting, and our new ranges and Christmas are already selling well,” Bell explained.

“We expect to attract even more interest as we get deeper in the season and operationally are well placed to take full advantage.”