Independent department store chain grows sales by 26%

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

According to its latest filed accounts for the year ended 30 January 2022, total sales rose 26% to £9.5m from £7.6m in 2021.

Gross profit increased from £3.6m to £4.6m, while pre-tax profit resulted at £1.6m, significantly improving from a loss of £1.2m recorded the previous year.

Stated within its report, the company said whilst the gross profit margin has again held up at around 48%, cost inflation will no doubt present ongoing challenges.

Looking ahead, the business added it is currently working on several projects as part of its diversification strategy. This includes commencement on construction of nine residential flats at the Worthing retail site.

Furthermore, outline planning permission has been granted to build four storeys of flats at the Horley retail site, while the company is also seeking out new store locations across the South-East of England.

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