A UK furniture retailer and part of the Frasers Group, has reported a sharp decline in sales and a significant widening of losses for the year ending April 30, 2025. Total sales fell 17.2% to £22.6 million, down from £27.3 million the previous year. Pre-tax losses surged to £8.2 million, compared with a £190,000 loss in 2024.
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The company, Sofa.com, attributed the decline to weakening conditions in the premium retail market, increased competition, and reduced marketing resources. Additional factors affecting profitability included the impairment of an intercompany debtor and the non-repeat of intercompany dividends received in 2024.
Despite the setbacks, Sofa.com's directors expressed optimism about the future, noting that the company is well-positioned for growth as economic pressures ease. They emphasised the retailer's readiness to adapt and capitalise on market opportunities as conditions stabilise.
The results highlight the ongoing challenges in the UK furniture sector, where competition and market pressures continue to test even established players.
Source: www.bigfurnituregroup.com
