Discount furnishings chain returns to sales growth

Home furnishings and fashion retail chain Choice Discount Stores has reported a surge in sales with turnover surpassing £20m.

According to its latest filed accounts for the year ended 29 January 2022, total sales rose 55.6% to £23.5m from £15.1m in 2021. This figure was still slightly down on its 2020 sales, which stood at £26.7m, but did end a run of declining year-on-year turnover since 2018 where sales generated £29.3m.

Gross profit increased from £8.4m to £12.8m, while pre-tax profit resulted at £145,000, up from its loss of £38,000 recorded the previous year.

Stated within its report, the company, which is backed by retailer Next, said: “The results for the period reflect not only the challenging retail environment but also the effect of a global pandemic, which has had an impact on revenue and gross profit compared to previous periods.

“We continue to review product ranges, store presentation and pricing and control costs to increase our future revenues and profits.”

Established in 1966, Choice operates from a portfolio of 23 stores across the South East of England.

Save this article for later

You can revisit this article if you save it as favourite news!

Leave a Comment

MORE ARTICLES

Carole Nolan, National Sales Controller at Maze, talks about the day job, what products are proving popular, gender diversity and what’s next for the company....