Beaverbrooks celebrates fifth consecutive year of sales growth
today Oct 3, 2019
Beaverbrooks, the family-owned jewellery chain, has posted a 2.9% uplift in sales to £127.4m, marking its fifth consecutive year of growth.
Revenue for the year ended March 2019 increased from £126.5m a year earlier.
The British retailer said operating profit remained flat at £12.4m, while gross profit margins fell from 17.3% to 16.4% as the company invested in new stock lines and salaries ahead of its 100th anniversary.
The jewellery firm has come a long way since opening its first doors in 1919. Focusing on diamond jewellery and watches, it currently operates 71 stores across the UK and employs over 940 people.
“We’ve just had the five most profitable years in our history. However, success at Beaverbrooks is not only measured in financial terms. A strong commitment to the learning and development of all our people, an open and honest company culture and commitment to the wider community in which we work, are all borne out in the many accolades awarded to the company during this period. As we celebrate our centenary in 2019, we are excited by what the future holds,” said Beaverbrooks chairman, Mark Adlestone.
“These results demonstrate that the combination of a sound strategy and continued investment in people, product and our presence on the high street, can deliver sustained success,” added managing director, Anna Blackburn.
“The jewellery market is highly competitive, but we firmly believe that the experience of coming into a high street store adds value to our customers. We have continued to invest in our people to ensure our customers have the best shopping experience at Beaverbrooks.”
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