Sales grow beyond £100m at fashion and furniture retailer

Fashion, homeware, gifts and furniture retailer Oliver Bonas has reported continued growth in turnover as sales surged beyond £100m.

According to its latest filed accounts for the year ended 31 December 2022, total sales rose 23% to £115m from £92.8m in 2021, further adding to its growth of 35% from £68.6m in 2020.

UK sales rose 22% to £112.1m from £91.7m, while EU revenues increased to £2.4m from £1m. Sales outside the EU also rose to £521,0000 from £139,000.

Pre-tax profit resulted at £9m, up from its profit of £7.4m recorded the previous year.

Stated within its report, the company said that sales remained ‘resilient’ despite challenges from increased costs and the war in the Ukraine, with the business posting record like-for-like sales growth.

Website sales ‘marginally dipped down’ while store sales continued to grow – with new stores performing well.

The company expanded its office and warehouse space across three locations in addition to opening eight stores across the year.

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