Independent department store chain continues sales growth

Independent furniture and homewares department store chain Collingwood Batchellor has reported another growth in sales and profit.

According to its latest filed accounts for the year ended 29 January 2023, total sales rose 19% to £11.4m from £9.5m in 2022, adding to its growth of 26% from £7.6m in 2021.

Pre-tax profit resulted at £1.9m, improving from £1.6m recorded the previous year.

Stated within its report, the company said: “The directors are very pleased with the company’s results overall.

“Sales slowed significantly from September due to several factors, including the ‘cost-of-living crisis’ but despite this, turnover was 19% higher than last year and the gross profit margin has held up at above 48%.

“The self-storage business has performed extremely well and occupancy is at nearly 100%; turnover from this income stream exceeded £195,000 compared to circa £122,000 in the prior year. The company is looking to expand the self-storage business when it is able.

“This year will also see the redevelopment of the company’s flagship Horley branch, with the addition of a new central staircase which will greatly enhance footfall around the entire store.”

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