Weak currency impacts sales growth at Northern Irish retailer

Northern Irish home furnishings retailer Harry Corry has reported a growth in sales as turnover reached £50m.

According to its latest filed accounts for the year ended 28 February 2022, total sales rose 7.9% to £50m from £46.3m in 2021.

Gross profit increased from £27.8m to £30m, while pre-tax profit resulted at £5.3m, remaining consistent and unchanged against the previous year.

Stated within its report, the company said that the increase in sales was due to its 54 stores being open for an additional two months when compared to the previous year, which was impacted by Covid-19 related restrictions.

“A weaker US dollar made purchases less expensive and a weaker Euro negatively impacted sales which resulted in a modest increase in gross margins of 0.06%,” the business added.

Save this article for later

You can revisit this article if you save it as favourite news!

Leave a Comment