Independent retailer sees sales grow towards £70m

Independent furniture retailer Stokers has reported a growth in turnover as sales climbed towards £70m.

According to its latest filed accounts for the year ended 30 April 2023, total sales rose 9.3% to £69.1m from £63.2m in 2022, further adding to its growth of 34.4% from £47m in 2021.

Pre-tax profit resulted at £6m, up from £5.9m recorded against the previous year.

Stated within its report, the company said: “During the year the Company invested over £500,000 in refurbishing the Stokers Chester store as part of its ongoing commitment to ensuring that all its stores are industry leading.

“The Company also received planning permission to extend its Doorway To Value store in Chorley adding an additional 10,000 square feet of retail space. This work will be complete by Christmas 2023 and will ensure the longevity of this important store. In addition, the existing store will undergo a complete refurbishment during the summer of 2023.

“The Company continues to maintain a very strong balance sheet. The Company holds cash at just over £7.5m an increase of near £2m over last year.

“For this reason, the Directors are confident that the Company can maintain its expansion plans and at the same time weather any storms the UK economy may endure.”

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