Discount furnishings chain maintains sales growth

Home furnishings and fashion retail chain Choice Discount Stores has reported another growth in sales as turnover surpassed £30m.

According to its latest filed accounts for the year ended 28 January 2023, total sales rose 31.9% to £31m from £23.5m in 2022, adding to its growth of 55.6% from £15.1m in 2021.

Pre-tax profit resulted at £150,000, up from £145,000 recorded the previous year.

Stated within its report, the company, which is backed by retailer Next, said: “The results for the period ended 28 January 2023 reflect a continuing challenging retail environment; along with the effects from high inflation, increased freight costs and a weak pound sterling have had an impact on revenue and gross profit.

“We continue to review product ranges, store presentation and pricing strategies and control costs to increase our future revenues and profits. The Company continued to invest in its stores during the period and is continually looking for suitable sites to expand the number of retail outlets.

“In addition, there is a continued focus on introducing new brands when opportunities arise, and to provide the best range of products for our customers.”

Established in 1966, Choice operates from a portfolio of 21 stores across London and the South East of England.

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