Sales near £100m at fashion and furniture retailer

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

According to its latest filed accounts for the year ended 31 December 2021, total sales rose 35% to £92.8m from £68.6m in 2020.

UK sales rose 38% to £91.7m from £66.3m, while EU revenues fell to £1m from £2.1m. Sales outside the EU also fell to £139,0000 from £193,000.

Gross profit increased from £34.2m to £46.7m, while pre-tax profit resulted at £7.4m, up from its profit of £1.3m recorded the previous year.

Stated within its report, the company said that online sales improved and represented 40% of overall sales, up from 20% before the pandemic. Meanwhile, it closed two stores permanently, opened two more and refurbished a further two also.

The company also exited the Zalando marketplace due to increased costs resulting from rising duty and freight costs, which made it ‘difficult to carry on the business’.

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