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Oak Furnitureland report a solid financial performance

Britain’s biggest solid wood furniture retailer Oak Furnitureland has reported a resilient financial performance driven by its turnaround plan. The retailer said results for the period… View Article

HOME AND DIY RETAIL NEWS

Oak Furnitureland report a solid financial performance

Britain’s biggest solid wood furniture retailer Oak Furnitureland has reported a resilient financial performance driven by its turnaround plan.

The retailer said results for the period ended June 30 were significantly impacted by Covid-19 as non-essential retailers were forced to close amid nationwide lockdowns.

During this time the business focused on serving customers via is online channel and despite the challenges it faced, Oak Furnitureland delivered an operating profit before exceptionals of £5.4 million.

The retailer said it has continued to invest in its omni-channel offerings, including digital innovation and enhanced customer service, which helped it deliver a strong digital performance.

As well as focusing on cost control and financial the business also stated that its board and leadership team had been strengthened, including the appointment of Mike Coupe as Non-Executive Chairman.

Oak Furnitureland chief executive Alex Fisher said: “These robust results are testament to the strength of our brand, the quality of our product offer, and of course, the dedication and commitment of our people.

“We have made considerable strategic, operational and financial progress and have built a strong platform from which to deliver sustainable, profitable growth. We remain confident in our proposition and optimistic for the future. I would like to take this opportunity to thank all our stakeholders for their continued support.”

Mike Coupe joined Oak Furnitureland in January this year as its chairman. Mike led Sainsbury’s for six years as CEO, where he was the architect of its takeover of Home Retail Group.

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