Nationwide bed and mattress retailer Bensons for Beds has confirmed that it had continued its FY23 sales momentum in the third quarter, posting an 8% like-for-like sales increase for the three months to the end of June.
This consistent like-for-like sales growth maintains the 8% growth posted for the first half of Bensons’ current financial year (7% in Q1 and 9% in Q2).
Bensons also continued to see strength in its digital offer which grew by 21% over the quarter as it benefitted from its investment in omnichannel capability and leadership.
During the quarter Bensons refurbished its Croydon store and opened a new location in Speke. In addition, it expects to open and relocate a significant number of stores during the next quarter- part of plans to invest significantly in its retail estate over the next two years.
In the quarter, Bensons also continued to drive significant new product innovation. In May it launched ‘Duo by Slumberland’, an new mattress that keeps customers cool in summer and warm in winter. The launch of Duo by Slumberland follows the H1 launch of the 2-in-1 mattress – Flip by Slumberland – that ensures growing adolescents get a better quality of sleep because it offers different support for their growing bodies.
Bensons also confirmed that eveSleep has seen significant sales growth, as the business completed the move to bring the brand to its physical stores across the UK just nine months after it was acquired.
The eveSleep website continues to trade “profitably” and Bensons has now strengthened the brand through the introduction of exclusive eveSleep hybrid mattresses to stores. In-store sales of hybrid mattresses have grown by around 60% since they were launched at the end of March.
Nick Collard, Bensons chief executive officer said: “The steady nature of our growth across the quarter and year to date, is a reflection of the significant work behind the scenes at Bensons to transform our business. I’m especially pleased at the successful introduction of eveSleep to stores. We knew when we acquired the business last year, we could offer it significant opportunity to grow under our ownership.
“The impact eveSleep is clearly making with our customers gives us confidence that, alongside other investments we’re making in product innovation, we’re building a unique portfolio of sleep solutions that can cater to every individual need. And while there’s no doubt the UK’s economic situation will continue to bring challenges, we’re pleased with the continued and consistent progress this year.”
Bensons is backed by Alteri Investors, the European retail sector specialist, and became a standalone business in 2020. In 2022, Bensons secured additional funding from Alteri to drive its growth strategy and transformation plans through investment in stores and digital developments.