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4 Mar 2024

The British Book Awards has announced its shortlist for Independent Bookshop of the Year. 

4 Mar 2024

The ACT is happy to confirm the date for Local Bike Shop Day 2024 as Saturday 4 May, the weekend of the early May Bank Holiday.

4 Mar 2024

Research by global fintech company SumUp has revealed the best cities in the UK for independent businesses.

21 Feb 2024

The latest quarterly State of the Industry survey from the National Hair & Beauty Federation (NHBF) shows that the recovery of the sector was slow and steady through 2023 and into January...

21 Feb 2024

The UK has voted for its favourite pun-based shop name, and 'Sew It Seams' - a clothing alteration store in Belfast - has been awarded the top spot. 

21 Feb 2024

Businesses in the Devon town of Ottery St Mary have praised their local council for initiatives designed to help support them and boost trade.

19 Feb 2024

A new ranking of the most popular independent coffee shops in the world has put three UK cafes in the top 10.

19 Feb 2024

Older people could be the financial shot in the arm needed for Britain’s high street, according to research commissioned by the University of Stirling. 

8 Feb 2024

The ACS (the Association of Convenience Stores) has celebrated the crucial role that rural shops play in thousands of communities across the UK in its 2024 Rural Shop Report.

8 Feb 2024

New research reveals that Apple Pay and contactless payments have overtaken cash payments by a landslide as our favourite ways to pay in-store.

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Demand for e-bikes reduces losses at Evans

Posted on in Business News ,Brands & Products News , Cycles News

Evans Cycles has reported reduced losses at the full-year mark as the retailer pumped up sales through rising demand for e-bikes.

As reported in Retail Week, the specialist retailer recorded a pre-tax loss of £2.5m in the 12 months to October 28, 2017, down from losses of £5.8m in the same period the previous year.

Image result for evans cyclesSales at the retailer increased 2% to £138.3m during the period.

Evans Cycles hailed its sales growth on categories such as e-bikes and added that the layout of a handful of its 60 stores had been reconfigured to increase its range in this category.

The cycling specialist opened two new stores in Portsmouth and Sutton Coldfield during the period, as well as refitting its Birmingham and Canary Wharf branches.

The retailer said that investing in its websites alongside its cycle-to-work initiative "helped the company grow its revenue and improve profitability year on year despite broader market headwinds".

"The directors remain confident about the medium and long-term prospects for the UK cycling market, noting that UK adult cycling participation is significantly below European averages, especially in cities, while new products such as e-bikes continue to expand the addressable market and the Government continues to invest in improving national cycling infrastructure," said Evans Cycles.

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