An Independent family-run furniture retailer in the UK has reported a 7.5% decline in annual sales, falling from £29.1m to £26.9m for the year ending 2 February 2025. Despite the drop, pre-tax profit rose significantly to £230,000, up from £45,000 the previous year. The company also recorded an improved gross margin of 48.1%, an increase of one percentage point.
© Fishpools
In its annual report, Fishpools acknowledged the challenges faced in 2024, including economic pressures from global cost-of-living increases, geopolitical instability, and the impact of the UK Government's autumn budget, which it said "negatively affected consumer and business confidence alike".
The retailer celebrated its 125th anniversary during the year, crediting its longevity to a continued focus on "wonderful customer service", prudent decision-making, and a reassessment of its product strategy. This included reallocating space from accessories to strengthen its core furniture offering, contributing to improved profitability.
Fishpools stated that overheads were "sensibly managed" as trading stabilised to pre-pandemic levels. It emphasised maintaining efficiency while preparing for future growth, despite a volatile market.
The business remains cautiously optimistic, highlighting its adaptability and strong foundation as key to navigating an uncertain economic landscape.
Source: www.bigfurnituregroup.com
