Wiggle’s massive sales boost - despite closing bricks and mortar stores

The online cycling giant Wiggle has announced a sales increase of 26 per cent in the UK, claiming that it has taken market share in a landmark year.

In the year ending February 2015, the firm announced increased European sales up 20 per cent too, but a disappointing result in the rest of the world, down 13.1 per cent.

Total sales were £179m, representing an 11.5 per cent rise overall, according to BikeBiz.

“Wiggle’s total and relentless focus on customer satisfaction continues to underpin our above market growth rates," said Wiggle CEO Stefan Barden.

"We are also working hard to be our branded suppliers’ preferred on-line partner. We continue to invest in the business, driving down costs through investment in our new warehouse and also by simplifying our business, reducing the work we do and automating wherever possible.

“We have many growth opportunities ahead and remain confident in the future performance of the company.”

The news came just weeks after we reported how Wiggle was set to close all of its concessions in Homebase stores - just over a year after opening the first one and detailing its plans to roll out more.

In an email sent to customers, the e-tailer said it was closing the Wiggle Workshops with “massive regret…due to circumstances outside of our control”.

The first to close will be in Milton Keynes and Cambridge, on Saturday October 3, while the St Albans store is expected to close on October 10.

Wiggle said there were “no plans to reopen but we are working hard to fill the gap”.

The e-tailer had initially opened the physical stores to offer servicing, click and collect and customer returns.

In May, the firm said it was to open two workshop concessions in Homebase stores later this year.

Homebase itself is however closing one in four stores, citing a drop in DIY shopping and more online purchases.