Bensons for Beds has returned to profitability for the first time since 2020 driven by the success of its turnaround plan.
Like-for-like sales for the bed retailer jumped 7% for the year to September 30, boosted by a 22% surge in online sales.
Bensons attributed its performance to its transformation strategy, which has seen the business return to profitability “despite unfavourable weather and reduced consumer spending affecting footfall”.
The retailer has increased its store footprint across the year with 14 new openings, including re-entry into markets such as Peterborough and Speke and new catchments like Edinburgh Craigleith and Edrington.
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It added said that its acquisition of EveSleep from administration in 2022 had delivered a “solid return on investment” since relaunching online last November.
Bensons for Beds chief executive Nick Collard said: “The last 12 months has been tough for the retail sector as the cost of living continues to hit consumer spending hard.
“We planned for this, and alongside last year’s acquisition of eveSleep, this has put us in a strong position to offer a breadth of quality sleep solutions at affordable prices – delivering an even more profitable business through consistent and steady growth.
“Going into next year we are conscious that the market will remain challenging, particularly for big ticket items, but as a business we have confidence that what we are doing is delivering positive results.
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