Destocking continues to harm Walker Greenbank sales but stability returns to branded sector

22nd July 2009 | furnishings | Luxury soft furnishings group Walker Greenbank expects sales to be down 12.5% in the first half of its financial year – as its customers continue to run down stock levels.

WG chairman Terry Stannard said earlier this year that manufacturing revenues to third parties were down 28%, which reflected an element of destocking, while brand sales, such as its Zoffany, Harlequin and Sanderson lines, had performed stronger.

This trend appears to have continued since then, with Stannard now saying that though the group remains cautious, it is seeing signs that stability has returned to brand sales in its key UK retail market.

The group has a turnover of almost £64m.