The Cotswold Company has seen double-digit sales growth since the winter after a ‘milestone; year.
After sales jumped by 19% to £100.2m in the year to 28 February, performance has continued with the double-digit increase ‘in line with expectations.’
During the year EBITDA leapt by 156% to £9.3m. Gross order margin increased by 480ppts to 62%.
Online sales rose by 14%, accounting for 78% of total sales while store sales jumped by 45%, helped by two store openings – Stamford and Marlow; the rollout of new in-store services such as upholstery hubs, and local marketing campaigns. Details of selling through Next and John Lewis were not disclosed.
The number of active customers grew by a fifth, and by almost a third over the past two years.
Oak furniture sales climbed by 41%, helped by new lines, and upholstery by 86%.
Since the year-end it has opened showrooms in Harpenden and Knutsford.
‘This is a milestone year for all at The Cotswold Company. I want to thank our teams for their hard work and commitment, which have helped us to significantly outperform the market, deliver strong profitable growth, and complete several important strategic milestones,’ says Ralph Tucker, The Cotswold Company ceo.
‘More and more customers are moving from “throwaway” furniture to high-quality, made-to-last products that can be passed down for generations and add quality design and character to a home. Through the strength of our brand, the broad appeal of new products that champion our commitment to quality craftsmanship, and the success of our national marketing initiatives, we continue to both benefit from and drive this change.
‘This year, we strategically pivoted to a truly omnichannel model with the commencement of significant partnerships with John Lewis and Next. This move, along with our strong brand and operational excellence, puts The Cotswold Company in a strong position to deliver further significant profitable growth and strengthen its position as one of the UK’s most-loved handcrafted homeware brands.’
