First-quarter trading update
Swift & Hale plc (SWH)
Swift & Hale plc, the walking and camping retailer, reports trading for the 13 weeks to 2 May 2026, the first quarter of the financial year ending 30 January 2027 (FY27).
Trading
| 13 weeks to 2 May 2026 | Growth |
|---|---|
| Like-for-like sales | 2.9% |
| Total sales | 4.5% |
| Online sales | 12% |
Like-for-like sales grew 3.2% in the first ten weeks, as we reported in April. February and March were mild and dry, and walking boots, day packs and light waterproofs sold well. The last three weeks of April were cold and wet, which held back the first tent and sleeping bag sales of the season.
We have signed leases for four new stores, and all four will open in the second half: Kendal in October, Killarney in November, and Settle and Pitlochry in January 2027. The other two sites in the six we planned in April are now likely to open in FY28, while we finish negotiating their leases. Six new repair benches will also open in the second half.
Gross margin in the quarter was a little below last year's, as we expected. The dollars we use to buy stock for FY27 were bought forward at less favourable rates, and a higher share of own brands made up part of the difference.
Footwear will be the first category to move onto the new merchandise planning system. That stage is on track to go live in July, and the old system will run alongside it through the autumn.
Outlook
May was wet as well, and camping sales are behind last year's, when the spring was dry. Most of the year's profit comes in the second half, and our expectations for the full year are unchanged. The AGM is at 11am on Thursday 18 June 2026 at Hale House, Dorchester, and we will announce our interim results on 24 September 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.
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.