Christmas trading update
Swift & Hale plc (SWH)
Swift & Hale plc, the walking and camping retailer, reports trading for the nine weeks to 3 January 2026 and for the 48 weeks of the financial year to date. The financial year ends on 31 January 2026.
Summary
| Sales growth | 9 weeks to 3 January 2026 | 48 weeks to 3 January 2026 |
|---|---|---|
| Like-for-like sales | 4.2% | 4.2% |
| Total sales | 7.1% | 6.9% |
| Online sales | 19% | 16% |
We expect adjusted profit before tax for the year of about £31m, towards the top of the range of market expectations.
Chief Executive's comment
Tom Penhallow, Chief Executive, said:
"A cold, wet autumn was good for waterproofs and boots, and Christmas shoppers came in for flasks, head torches and socks. We have six new stores trading and less surplus stock going into January than last year. We did let some customers down on next-day delivery in the busiest weeks of December, and we will fix that before next Christmas."
Trading
Like-for-like sales grew 2.4% in the 13 weeks to 1 November 2025. Rain in August cut late-summer camping, and the cold, wet weather from late September brought customers in for waterproofs, walking boots and warm layers. Over the nine weeks to 3 January like-for-like sales grew 4.2%. Gifts did well, led by flasks, head torches and socks, and Hale and Swift gift sets sold out in many stores in the week before Christmas.
Online sales grew 19% over the nine weeks, and customers collected more than four in ten online orders from a store. Huntworth handled its highest parcel volumes since it opened, and too many next-day orders arrived late in the week before Christmas. We are adding sortation capacity and changing carrier collection times before the next peak.
The Swift & Hale Club passed 2 million members in October. Westport, in County Mayo, has traded ahead of plan since it opened in October. We now have 128 stores, after closing Swindon and Reading when their leases ended.
Margin, stock and cash
We went into January with less surplus stock than a year ago, so the clearance sale is smaller. We expect gross margin for the year to be about 50 basis points higher than last year: a higher share of own brands, lower freight rates and less clearance more than cover a weaker pound against the US dollar in the second half.
We expect to end the year with net cash of more than £34m and no borrowings. The cost of leaving the former Poundbury warehouse, about £0.8m, will be shown as an adjusting item.
Outlook
We expect adjusted profit before tax for FY26 of about £31m. The company-compiled consensus is £30.6m, with a range of £30.0m to £31.2m. We will announce our results for FY26 on 15 April 2026.
Cautionary statement
This announcement contains forward-looking statements. The directors make them in good faith, based on the information available to them today. They relate to future events, involve risk and uncertainty, and actual results may differ materially. Swift & Hale will not update them except where law or regulation requires it. Nothing in this announcement is a profit forecast.
This announcement contains inside information for the purposes of Article 7 of the UK Market Abuse Regulation. The person responsible for arranging its release on behalf of Swift & Hale plc is Claire Hollins, Company Secretary.
Enquiries
| Contact | Telephone |
|---|---|
| Swift & Hale plc: Tom Penhallow, Chief Executive, and Anjali Mercer, Chief Financial Officer | 01632 960 457 |
| Fernhill & Vane, financial PR: Harriet Locke and Owen Treharne | 01632 960 614 |
Swift & Hale plc is a fictional company created by CHS for demonstration.