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Furniture Village sees 18% fall in profits
Furniture Village saw its annual pre-tax profits fall by 18% to £3.6 million in the 52 weeks to 3 April 2011.
In accounts filed at Companies House, the Slough-based company said the fall in profits was to some extent a result of "significant increases in marketing investment and property-related spend" during the year, which had partly offset continued improvements in margins.
However, turnover rose 4.8% to £180.7 million with sales boosted by the opening of three new stores, increased operational efficiencies and improvements in customer service.
Chairman Jim Hodkinson said: "There is little doubt that consumer confidence is under significant pressure at present, and that is likely to continue for some time yet."
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