Bensons For Beds returns to profitability in FY23
During the last 12 months, the retailer has continued the growth of market share in its core categories and invested in omnichannel and digital capabilities
Register to get 1 more free article
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Bensons For Beds has reported a return to profitability as turnover grew by 7.5% to £257.5m for the 53 weeks to September 2023, along with reported EBITDA profits of just over £1.5m from a previous loss of £15.4m.
The bed retailer has attributed its performance to the implementation of its recovery plan in 2022, which focused on sales conversion and Average Transaction Value in order to “make the most of what demand there was”.
During the last 12 months, Bensons For Beds has continued the growth of market share in its core categories and invested in omnichannel and digital capabilities, which has yielded digital like-for-like growth of 22%.
The brand now also boasts 277,000 members within its new ‘Bedheads’ community by creating “valuable customer communication and marketing opportunities”.
Bensons For Beds also opened 14 new stores across the year, including its re-entry into Peterborough and Speke and new catchments in Edinburgh, Craigleith and Edrington.
In addition, the retailer also announced several key hires over the previous year, including the appointment of Linda Sleath to the role of chief people officer.
Nick Collard, CEO of Bensons for Beds, said: “Five months into the new financial year and in an external market which remains challenging, we continue to make progress, and our performance remains in line with our expectations.
“For the remaining months of the financial year we remain focused on those factors in our control; store number growth, investment in colleague training, product innovation and digital capability.”
