Dreams sales boosted by record investment in stores, technology and supply chain
Dreams has posted a 2.2% increase in annual turnover to £395.4 million after it invested a record amount in its operations as part of its ongoing modernisation programme.
In the 52 weeks ending December 2023, underlying EBITDA before currency movement rose to £59 million from £58 million in the prior year while gross margin as a percentage of sales increased by 1.1% to 53.7%.
Jonathan Hirst, chief executive of Dreams said: “Our strong performance is a testament to the strength and resilience of the Dreams business and brand.
“By staying focused on delivering expertly crafted beds and mattresses and best-in-class customer service, we’ve maintained growth against challenging market conditions.”
During the period, the retailer continued to modernise its store experience and supply chain. This included the opening of its largest distribution centre to support faster deliveries within the Midlands area, the launch of four new stores, and a range of store refits.
Dreams also made a series of upgrades to its technology systems and invested in new machinery in its bed factory.
Since the year end, the retailer has opened two new stores, refitted 22, and launched a new distribution warehouse in Gartcosh to improve product availability and reduce lead times for customers in Scotland.
Hirst added: “The last financial year was a record year of investment for us and we made significant upgrades across our business which will set us up for success.
“Moving forward, we will continue to expand our store estate and invest in instore experience, manufacturing operations and in our exceptional colleagues, who remain at the heart of our success.
“I’m confident that Dreams will continue be the UK’s most loved bed retailer, be first choice for customers across the UK and continue to go from strength to strength.”
