Bed retailer, Dreams, has reported a 4.3% rise in sales for the year ending December 2024, with turnover reaching £412.5m, up from £395.4m in 2023. Underlying EBITDA saw a slight increase from £58.6m to £59.2m, while pre-tax profit fell marginally to £47m from £49.3m.
© Craig Russell | Dreamstime
The company credited its performance to strong team support and adapting well amid "continued subdued market conditions and economic uncertainty." It focused on maintaining low retail prices despite inflationary pressures on wages, raw materials, and ocean freight.
Store numbers increased to 217 by year-end, following 11 openings and 4 closures, reflecting "prudent space management" and efforts to grow market share. Gross margin dipped slightly to 53.1%, as the company absorbed rising costs to benefit customers.
Significant investments were made in retail space and brand marketing, including a national campaign featuring Gillian Anderson and partnership with Team GB during the 2024 Olympics, boosting brand visibility and footfall.
Sustainability efforts included promoting mattress recycling, resulting in 137,347 mattresses recycled in 2024, and a shift to a 100% hybrid/electric company car fleet.
Looking ahead, the company remains cautious about economic challenges but is "positioned strongly for a recovering market" and committed to "delivering exceptional customer service."
Source: www.bigfurnituregroup.com
