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Heal’s gross sales hit £50 million for first time

Heal’s posted a record year in the 12 months to 18 September 2021 with gross sales reaching more than £50 million for the first time in… View Article

HOME AND DIY RETAIL NEWS

Heal’s gross sales hit £50 million for first time

Heal’s posted a record year in the 12 months to 18 September 2021 with gross sales reaching more than £50 million for the first time in its history.

The uplift marked an increase of 27% against the previous year after trade was driven by the continued growth of its online business.

While the company’s six stores were closed for prolonged periods due to the Covid-19 pandemic, sales were boosted by the strength of the heals.com website and telesales channels. Online sales grew by 51% in the period and accounted for 60% of overall revenue.

Meanwhile, the company made a pre-tax profit £2.1 million due to a combination of a strong multichannel sales performance and tight cost control. This compares to a loss of £2 million in the previous year.

Heal’s did not make use of the government furlough scheme and all employees were paid in full during the pandemic.

Giving an update on more current trading, the company said this exceeded expectations during the recent winter sale, with revenues 4% ahead of a very strong prior year. It also included a record sales week for the business. Best selling items included sofas and easy chairs, which marked a shift from earlier in the pandemic when desks and storage items were very popular.

Hamish Mansbridge, chief executive of Heal’s, said: “2020/21 was a record year for Heal’s. As well as seeing growth in demand for home interiors, it’s a real testament to the strength of our brand and the quality of our products that customers were buying in increasing numbers through our online channels, both during and after lockdowns. As a result of this, whilst remaining very conscious of economic, geo-political and social uncertainties, we move forward with continuing confidence in our in-store and digital experiences.”

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