Bensons for Beds has seen an almost £17m turnaround in profits after sales grew by £18m.
The chain saw a EBITDA profit of £1.5m in the 53 weeks to 30 September 2023, compared with a loss of £15.4m.
Sales grow by 7.5% to £257.5m.
The group says that the performance was a result of focussing on increasing conversion rates and bosting average order values.
‘Five months into the new financial year and in an external market which remains challenging, we continue to make progress, and our performance remains in line with our expectations. For the remaining months of the financial year we remain focused on those factors in our control; store number growth, investment in colleague training, product innovation and digital capability,’ says Nick Collard, Bensons for Beds ceo.
‘There is an old retail saying to the effect that you should focus on the KPIs that you can control. Faced with lacklustre market demand, the Bensons team have done just that – focusing on sales conversion and average transaction value in order to make the most of what demand there was, and on delivering a first-class customer experience both during and after sales were made and products delivered,’ says the chain.
‘That focus proved extremely effective, with all these controllable KPIs moving in the right direction. The ultimate measure of that is in the financial results which show strong revenue growth and a return to profitability despite the challenging market.’
It added it had grown market share in core categories including mattresses and bedframes; boosted online sales by more than a fifth; improved what customers thought of its performance and opened 14 branches.
