Dreams grows full year sales and profit
Bed retailer Dreams has grown both its full year sales and profit as it continues to expand its store network and its online capabilities.
In the 52 weeks to 24 December, sales rose by 7.2% to £300 million while group profit increased by the same percentage to £29.2 million.
Meanwhile, underlying pre-exceptional EBITDA was up 7.6% to £43 million. The company also saw its fourth consecutive of like-sales growth with sales rising by 3.3%.
During the period, Dreams opened eight new stores, including two relocations, to take the total to 187. These included a new concept store in Watford. It has also opened a further three stores so far in 2018.
In addition, Dreams launched a range of more upmarket bed frames in the full year which now make up 20% of the total sales mix. It also invested £1.8 million in a new web platform.
Mike Logue, Dreams chief executive, said: “Our results for 2017 reflect our ongoing investment and commitment to make, sell and deliver the most comfortable beds across the UK. We have continued to provide market leading quality, value and choice alongside a first-class customer experience.
“This positive set of results for 2017 is our fourth year of continued sales and profit growth and is testament to the dedication of our colleagues across the UK.”
Looking at current trading, Dreams said it has achieved a “strong” start to the year as it looks to take advantage of further growth opportunities.
Logue added: “The company continues to invest in its digital offering, alongside systematic refurbishment of its resized store portfolio, to ensure the best possible customer journey both in-store and online.”
