Furniture retailer Loaf has reported revenues of £66.4m for the 12 months to 31 December 2024, compared with £59.8m in the prior nine-month period. Underlying EBITDA fell to £4.4m, while pre-tax profit declined to £2.1m, down from £7.5m and £5m respectively.
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The company stated that "significant headwinds" in the furniture market, driven by cautious consumer spending, led to a 12% fall in comparable sales orders to £69m. Despite this, Loaf said it continued to invest in its business, product range and sales channels to support long-term growth.
Since the year-end, the market has remained "highly promotional" amid weak demand, with sales rising year-on-year but at reduced margins. Directors acknowledged the challenging trading environment but expressed confidence in the company's "strength and resilience", stressing their commitment to delivering a high-quality customer experience through "excellence in products and service".
Loaf's approach reflects its strategy of balancing short-term pressures with sustained investment in brand and operations, aiming to position the company for stronger performance when market conditions improve.
Source: www.bigfurnituregroup.com
