BikeBiz Bicycle and cycling retail news
Chain Reaction Cycles has appeared again in Sunday Times Profit Track 100 league, which charts British private firms with fast-growing profits.
It’s the second consecutive appearance for CRC in the league table, last year reaching 67th position. CRC was the highest ranking online bike retailer and saw, says the report, profits grow on average 63 per cent a year over three years to £13.5m in 2010.
The table ranks Britain’s 100 private companies with the fastest-growing profits over the last three years of available audited accounts.
Wiggle also made an appearance in the table, reaching position 89. According to The Times, profit rose 46 per cent a year, from £3.5m in 2008 to £10.9m in 2011. The report referenced Wiggles expansion beyond cycling into running, swimming and triathlon equipment, shipping to 88 countries.
“We’re proud to have featured in the Sunday Times Profit Track 100 and I’d like to thank our customers old and new for their support," said CRC e-commerce director Michael Cowan.
"We continue to focus on our customers’ needs and we’re doing all we can to improve our service so we can make the website the best we can for cyclists, triathletes and runners. We still have big plans for the company which will all help to improve the buying experience.”
The list, the 13th from The Times, was published last week.
Go Outdoors, retailer of hiking, mountaineering, camping and other outdoor pursuers reached position 18, reporting climbing profits of 92 per cent (up from £987,000 in 2008 to £7m in 2011). It opened ten stores last year and now operates 31 in total. Also outside the cycle world of retail, the list included two discount stores (99p Stores at position 39 and Poundworld at 68).
