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Share Price: 126.50

Bid: 125.00

Ask: 130.00

Change: -1.00 (-0.78%)

Spread: 5.00 (4.00%)

Open: 127.50

High: 127.50

Low: 126.50

Prev. Close: 127.50

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Gear4Music warns on profits as margin pressure offsets sales growth

Tue, 02nd Apr 2019 08:08

(Sharecast News) - UK-based online musical instruments retailer Gear4Music issued a profit warning on Tuesday as increased costs and competition offset improved sales.Gear4Music saw UK sales increase 33% to £63.6m and Europe and Rest of World Sales shoot up 41% to £54.7m, pushing total sales ahead 36% year-on-year to £118.3m as a result.However, Gear4Music now expects earnings to be no less than £2m for the 13 months ended 31 March, principally due to shrinking margins as a result of increased distribution costs, some short-term courier cost inflation and a clean-up of overstocked and slower moving inventory."During the period the group was impacted by lower gross margins than has historically been the case," said G4M."In addition, our York distribution centre reached maximum capacity during our peak Christmas trading period which affected anticipated sales growth and also resulted in higher than expected distribution costs."Active customer numbers improved 53% to 727,400.Net debt looked set to come in below Gear4Music's previous forecasts, with adequate headroom against its asset-backed banking facilities supporting its funding requirements.Elsewhere, analysts at Peel Hunt reiterated their 'hold' rating on Gear4Music's shares but slashed their target price on the AIM-listed outfit from 500p down to 300p.As of 1230 GMT, G4M shares had slumped 4.65% to 205p.

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8 Oct 2018 16:15

AXA Investment Managers Now Holds 5% Stake In Gear4music (ALLISS)

LONDON (Alliance News) - Gear4music Holdings PLC said Monday that AXA Investment Managers now holds a 5.2% stake in the company.AXA's holding in the musical instrument retailer prior to

7 Sep 2018 08:09

Gear4music sales growth ahead of expectations

(Sharecast News) - Online retailer Gear4music saw sales grow ahead of the company's own forecasts in the first half of its trading year, boosted by a 230% rise in fulfilled orders from its German distribution centre.

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Gear4music revenue growing amid competitive market

(Sharecast News) - Musical instrument and equipment retailer Gear4music told shareholders that revenue growth was still strong amid a "highly competitive" market on Friday, ahead of the annual general meeting during the afternoon.

27 Jul 2018 09:41

Gear4music Board Confident After Strong Revenue Growth

LONDON (Alliance News) - Musical instruments retailer Gear4music PLC said Friday that revenue growth for the year-to date continued to be "strong" against a "competitive his annual

20 Jul 2018 15:51

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15 May 2018 11:11

Gear4Music Annual Profit Drops On Investment But Expects Strong Growth

LONDON (Alliance News) - Gear4Music Holdings PLC said Tuesday its full-year profit dropped amid rising costs, as it ramped up investment and said it expects to deliver "strong" revenue a

6 Jan 2017 07:58

Gear4music sees FY profit ahead of previous expectations

(ShareCast News) - Online instruments retailer Gear4music said on Friday that it expects full-year profit to be above its previous estimates as it posted growth in sales for the four months from 1 September to 31 December 2016. Total sales in the period were up 55% to £24.4m from the year before, wi

18 Oct 2016 16:17

DIRECTOR DEALINGS SUMMARY: Gear4music Trio Sell For GBP7.4 Million

18 Oct 2016 08:23

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18 Oct 2016 08:05

Gear4Music Expects To Beat Prior Expectations After Swinging To Profit

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16 Sep 2016 11:29

DIRECTOR DEALINGS: Vehicle Of Gear4music Non-Executive Sells Again

14 Sep 2016 16:17

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14 Sep 2016 11:07

DIRECTOR DEALINGS: Gear4music Non-Exec Sells GBP3.7 Million In Shares

6 Sep 2016 09:07

Gear4Music posts jump in interim sales

(ShareCast News) - Musical instruments and equipment retailer Gear4Music reported a jump in interim sales as it said the business was well placed to cope with the impact of the UK's decision to leave the European Union. In a trading update for the six months to the end of August, the company said UK

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