Beaverbrooks posts ‘resilient’ year as like-for-like sales rise 1.1%
Beaverbrooks has said it put in a resilient performance last year amid a “tough” period for UK retail but warned the year ahead will not be without its challanges.
The family owned jewellery retailer posted like-for-like sales growth of 1.1%, which it attributed to the strength of its product range, brand partnerships and the level of customer service in its stores and online.
Subscribe to TRBHowever, underlying operating profit fell by 9% to £7.8 million, following the impact of higher costs, including employer National Insurance contributions and an increase in the National Living Wage. Including £5 million of exceptional income, total operating profit rose 49% to £12.8 million.
Anna Blackburn, managing director of The Beaverbrooks Group, said: “The resilience of our performance and growing like-for-like sales is testament to our strategy. We continued to invest in our people, product, stores, digital and ecommerce offering to ensure we can provide the best possible products and service to our customers. Our business has remained strong for 107 years because we believe in the high street and the importance of exceptional products and customer service.”
During the period, Beaverbrooks strengthened its product offering with the addition of new jewellery and diamond collections, including True by Beaverbrooks, a fully traceable diamond collection. It also launched new brand partnerships with Coach, Nomination and Astley Clarke.
The retailer continued to invest in its stores and has now commenced a refurbishment programme that will continue throughout 2026/27. This will include a significant expansion and redevelopment of the Lakeside store, as well as the unveiling of a new concept in the brand’s flagship Beaverbrooks store at Trafford Centre.
Expansion included the opening of a fourth Loupe boutique in Sheffield, adding to existing stores in Milton Keynes, Preston and Croydon. Beaverbrooks has also invested in a new 80,000 square foot head office, which is set to open next year.
Commenting on the outlook for the 2026/27 financial year, Blackburn said: “Despite a challenging retail environment, we remain optimistic and continue to focus on what we can control: a strong team, a clear plan, and a customer offer that continues to resonate with existing and new customers alike, whether people are shopping for a major milestone, a gift or a self-purchase.
“We’ll continue to invest in our people, product and stores – continuing the long-term focus that strengthens the business – while staying agile to adapt to any short-term challenges.
“The year ahead will not be without its challenges, but we go into it with momentum, confidence in the fundamentals of the business, and a long-term view of what Beaverbrooks can achieve.”
During the year, £1.54 million was donated from The Beaverbrooks Charitable Trust and Beaverbrooks the Jewellers Ltd to charities and local causes to take the total donated since 2000 to £26.6 million.
