Shift towards higher ticket furniture boosts sales at OKA

Furniture and accessories retailer OKA has reported a growth in turnover as sales surpassed £40m.

According to its latest filed accounts for the year ended 31 December 2022, total sales rose 10% to £41.8m from £37.7m year-on-year.

Adjusted EBITDA was £6.3m, down from £8.9m, while pre-tax losses resulted at £3.9m, widening from a loss of £1.8m recorded in the previous year.

Stated within its report, OKA said: “Revenue growth was primarily driven by a growth in average order values, with a shift in product mix towards higher ticket furniture and garden pieces, partly reflecting the continued growth of the Tailored range.

“OKA’s customers continue to navigate between channels more than ever before, and the resilience in top line performance is reflective of the omni-channel business model, which includes mature trade, interior design and mail order sales channels.

OKA added that significant investment has been made to develop OKA USA, which include the opening of a flagship showroom in Westport, Connecticut in December 2022.

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