Dreams reports robust 2021 performance
Dreams has hailed the strength of its brand after posting an increase in both full year sales and profit.
In the year to December 2021, sales rose to £358.4 million from £302.1 million a year earlier while pre-tax profit climbed by 5.1% to £48.7 million.
Underlying pre-exceptional EBITDA was also up, rising by 6.4% to £60.7 million.
Dreams said its ecommerce platform saw net sales growth of 187% from 2019.
Jonathan Hirst, Dreams chief executive, said: “These results once again reinforce the strength of our brand and the resilience of our colleagues, who have continued to show unfaltering commitment to the Dreams business.
“Whilst 2021 was undoubtedly a more positive year for retail, it was still a challenge, with stores shut for an additional 14 weeks and affecting sales. Despite this, a relentless focus on customers, colleagues and culture allowed us to respond well and mark the eighth year of consecutive profit growth.”
During the year, the company opened four new Dreams stores, four spaces for Feather & Black within Dreams shops, and relocated and refurbished three sites and 19 stores respectively.
Looking ahead, Dreams said: “In an operating environment that continues to be challenging for all retailers, Dreams is positioned well and remains focused on delivering industry leading products and stand-out customer service through its best-in-class colleagues.”
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