Home furnishings retailer delivers ‘resilient’ sales

Home furnishings retailer Heal’s has reported a slight decline in sales and profit.

According to its latest filed accounts for the year ended 17 September 2022, total sales fell 2.6% to £37m from £38m in 2021. Operating profit and pre-tax profit resulted at £1.4m, down from £2.1m recorded the previous year.

During the year, Heal’s closed its outlet in Walton on Thames, replacing it with a new outlet store in Kings Road, London. It also opened two new concessions in Fenwick department stores in Canterbury and York following the success of the partnership in Fenwick Newcastle.

Stated within its report, Heal’s said: “The prior year was boosted by the Covid-19 pandemic, which meant that customers were spending more time at home and were improving their living and home working environments. The directors were therefore pleased to maintain sales at a similar level, which demonstrated the resilience of the offer.

“The reported sales figure includes only the commission on sales from its concession model and thus the actual sales taken are higher than those reported. The strategic focus going forward is for the company to continue to grow its digital brand and to consider other opportunities for the further growth as they arise.”

Heal’s has recently announced the reopening of its new-look flagship store on Tottenham Court Road, where it has anchored London’s “furniture street” since 1818.

Save this article for later

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

Leave a Comment

MORE ARTICLES

Nicolle Hockin, Managing Director at Devonshire Living, shares an insight into how the last 12 months have been at the business, future plans and top...