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3 March 2011

Imerco started off 2011 with very strong revenue growth in January

Imerco Holding A/S, Denmark's undisputedly largest housewares chain, with 155 stores nation-wide, generated strong revenue growth in January 2011:

  • Imerco is continuing its proactive sales and marketing strategy with weekly sales promotions throughout 2011;
  • Revenue for January 2011 was up 20% on January 2010;
  • Imerco's aggressive sales promotions attracted substantially more customers to the chain's 155 stores;
  • The financial crisis is now truly history for Imerco: Imerco has generated sales growth and won market share every month since February 2010;
  • Imerco is now further intensifying the expansion of its extensive store network, expecting to open new stores in prime locations as well as to relocate existing stores to better locations.

Significant revenue progress and continuing growth

Following successful and satisfactory Christmas sales, Imerco is continuing its aggressive sales and marketing strategy in 2011. In January 2011, these efforts drove up revenue growth by as much as 20% compared with January 2010. The revenue growth was based on strong promotional activities taking place every week of January as well as a successful start to the sales season.

Throughout January, Imerco recorded a significantly higher inflow of customers to the chain's 155 stores all over Denmark. The significant increase in customer numbers and the strong revenue growth combined to ensure that the financial crisis is now history for Imerco.

The outlook for the remaining eight months of the financial year is unchanged with expectations of further revenue growth and a further improvement of last year's record-high operating performance.

Growth driven by new store openings and relocation of existing stores

Imerco plans to further intensify the expansion of its store network in 2011 by opening new stores in prime location shopping centres as well as in prime locations in major cities.

In addition, several existing Imerco stores will be moved to better locations and more spacious premises with a view to optimising selling conditions.

Imerco expects that the expansion of the store network mentioned above will contribute further to growth in 2011.

For additional information, please contact:

Villy Gravengaard, CEO of Imerco, tel. +45 4320 100, mobile +45 2923 9018

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