Bensons for Beds posts third successive quarter of like-for-like growth
Nationwide bed and mattress retailer Bensons for Beds today confirmed that it had continued its FY23 sales momentum in the third quarter, posting an eight per cent like-for-like sales increase for the three months to the end of June.
This consistent like-for-like sales growth maintains the eight percent growth posted for the first half of Bensons’ current financial year (7pc in Q1 and 9pc in Q2).
Bensons also continued to see strength in its digital offer which grew by 21 per cent over the quarter as it benefitted from its investment in omnichannel capability and leadership.
During the quarter Bensons refurbished its Croydon store and opened a new location in Speke. In addition, it expects to open and relocate a significant number of stores during the next quarter- part of plans to invest significantly in its retail estate over the next two years.
In the quarter, Bensons also continued to drive significant new product innovation.
In May it launched ‘Duo by Slumberland’, an innovative new mattress that keeps customers cool in summer and warm in winter.
The mattress, which is double-sided, has a spring/summer side featuring cool-touch fabric that draws heat away from the body and helps customers stay cool. The autumn/winter side features fabric to help insulate the body and keep them cosy during cooler nights.
The launch of Duo by Slumberland follows the H1 launch of a unique 2-in-1 mattress – Flip by Slumberland – that ensures growing adolescents get a better quality of sleep because it offers different support for their growing bodies. The brand-new mattress is softer on one side for when kids are smaller and firmer on the other side for when they’re bigger.
Both mattresses are innovative sleep solutions produced at Bensons’ Cambridgeshire manufacturing centre. Each comes with an eight year guarantee, and takes advantage of Huntingdon’s prestigious BSI kitemark for quality craftmanship,
And just nine months after it was acquired, Bensons today confirmed that eveSleep had seen significant sales growth, as the business completed the move to bring the brand to its physical stores across the UK.
The eveSleep website continues to trade profitably and Bensons has now strengthened the brand through the introduction of exclusive eveSleep hybrid mattresses to stores. In-store sales of hybrid mattresses have grown by around 60 per cent since they were launched at the end of March.
Nick Collard, Bensons chief executive officer said: “The steady nature of our growth across the quarter and year to date, is a reflection of the significant work behind the scenes at Bensons to transform our business.
“I’m especially pleased at the successful introduction of eveSleep to stores. We knew when we acquired the business last year, we could offer it significant opportunity to grow under our ownership.
“The impact eveSleep is clearly making with our customers gives us confidence that, alongside other investments we’re making in product innovation, we’re building a unique portfolio of sleep solutions that can cater to every individual need.
”And while there’s no doubt the UK’s economic situation will continue to bring challenges, we’re pleased with the continued and consistent progress this year.”
Bensons is backed by Alteri Investors, the European retail sector specialist, and became a standalone business in 2020. In 2022, Bensons secured additional funding from Alteri to drive its growth strategy and transformation plans through investment in stores and digital developments.
