‘Healthy demand’ continues at furniture retailer

Independent furniture retailer Glasswells has reported another growth in sales and profit.

According to its latest filed accounts for the year ended 25 February 2023, total sales rose 11.3% to £28.5m from £25.6m in 2022, adding to its growth of 30% from £19.6m in 2021.

Pre-tax profit resulted at £3.2m, up from £2.9m recorded the previous year, marking another uptick in bottom line growth from £2.1m.

Stated within its report, the company said: “Healthy demand for home furnishings has continued, particularly in carpets and curtains, whilst new orders for furniture have returned to more regular levels.

“We entered the year with a high order book, generated by prior year healthy sales and also extended supplier lead times. Many of our manufacturers saw their order books double as they struggled to keep up with demand.

“New business has slowed, but factories have continued to produce, so we have delivered more goods than in a normal trading period. Our pipeline has a more normal look about it; the supply chain is both faster and more reliable and prices which were changing frequently have begun to be more constant.

“Store visits have been strong and whilst supported by our online presence, our focus is on improving the instore experience and the desirability of our shops. During the year, we invested in new lighting at our Bury store, powered by an installation of solar panels.”

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