Dreams reports rising sales and profits after year of investment in digital and logistics
Dreams today reported a 15% boost to its ecommerce business as it said its sales and profits both rose during its latest financial year.
The beds retailer, a Top250 retailer in IRUK Top500 research
said overall sales reached £300m in the year to December 24, a rise of 7.2% on the same time last year, while online sales grew by 15%. Group pre-tax profit came in at £29.2m, up by 7.2% on last time.
Chief executive Mike Logue said: "Our results for 2017 reflect our ongoing investment and commitment to make, sell and deliver the most comfortable beds across the UK. We have continued to provide market leading quality, value and choice alongside a first-class customer experience.
"This positive set of results for 2017 is our fourth year of continued sales and profit growth, and is testament to the dedication of our colleagues across the UK."
He added: "While the UK consumer economy continues to face a number of challenges, our continued growth and improvement puts us in a strong position to gain further market share."
High Wycombe-based Dreams sells via 190 stores and online. Here's our round up of what the retailer said about its multichannel strategy.
Dreams said it had prioritised digital investment in the last year. It spent £1.8m on a new web platform that it said would establish its digital leadership. Over the year it saw 18.2m website visits, and online sales grew by 15%.
The retailer has also invested in its logistics over the year, adding two new home delivery centres to take its network to 11 across the UK. It also expanded its factory in Oldbury, boosting its production capacity by a third. During the year it made more than 480,000 deliveries.
Dreams launched its Pillow Talk customer service feedback survey in 2014. Since then more than 300,000 surveys have been completed. In 2017 it scored 86% through the survey, rising from 84% in 2016. It also had a Trustpilot rating of 9.5.