THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Dreams' full year profits surge

Bed retailer Dreams saw its pre-tax profit surge by 136% to £32 million in the year to 24 December as it invested in its stores, digital offering and factory.

HOME & DIY

Dreams' full year profits surge

Bed retailer Dreams saw its pre-tax profit surge by 136% to £32 million in the year to 24 December as it invested in its stores, digital offering and factory.

While like-for-like sales rose by 14.1%, total sales climbed by 20% to £280 million.

Mike Logue, chief executive of Dreams, said: “2016 was a pivotal year for Dreams, building on the last three years of growth. Our significant investment, matched by the incredible efforts of our 1,850 colleagues across the UK in our factory, our 181 shops and our delivery centres have enabled us to achieve these record results.”

During the period, Dreams opened 14 new stores, including three relocations, and refurbished ten existing shops. It also improved its digital offering, which helped online sales to increase by 34%, and invested £1 million in its Dreams bed factory in Oldbury.

The company is planning to launch a new store concept and digital format later this year.

Looking ahead Logue said: “Whilst potential future challenges to the UK consumer economy are well documented, we are confident that we will continue to successfully execute our strategy and that it will be another year of significant progress for Dreams.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process