Bensons for Beds boosted by stronger online sales
Bensons for Beds posted strong sales growth in the last three months of 2022 following investment in its stores and online platform.
The bed and mattress retailer saw its like-for-like sales increase by 7% in the quarter compared to the same period a year earlier. Trade was boosted by a 41% uplift in online sales as digital transactions ran at double pre-pandemic levels. The retailer was encouraged by the early performance of the Eve Sleep brand which it acquired last October.
Last year, the retailer made a series of changes to its senior leadership team, which included the appointment of Nick Collard as chief executive.
Collard said: “Our performance over the quarter provides a good indication that our investments across the business are beginning to bear fruit. We have made big steps towards our goal of becoming a market leading omnichannel retailer reflected in the rise in sales at an important time of the year. Although we expect the market to remain challenging, we remain well placed to navigate the year ahead.”
Bensons is backed by Alteri Investors and became a standalone business in 2020. In August 2022, the retailer secured additional funding from Alteri to help drive growth through investment in its stores and digital platform. Bensons was operating 168 stores at the end of 2022 and is looking to grow the the network to between 180 and 190 over the next two years.
