Dreams, a renowned bed specialist, has reported a slight increase in sales and profits due to considerable investments across its operations.
- Annual turnover showed a 2.2% uptick, reaching £395m for the year ending December 2023, alongside a rise in EBITDA.
- Record-breaking investments were made in store expansions, technology upgrades, and supply chain enhancements.
- Strategic initiatives included opening new stores and distribution centres to improve logistics and customer service.
- CEO Jonathan Hirst highlighted the importance of these upgrades in maintaining growth despite challenging market conditions.
Dreams, a specialist in the bed industry, has experienced incremental growth in its annual sales and profits. This development has been attributed to significant investments made in various sectors of its operations. Specifically, the company reported a 2.2% rise in its annual turnover, amounting to £395 million for the 52 weeks ending in December 2023. Additionally, the underlying EBITDA, prior to currency movement considerations, increased marginally from £58 million to £59 million.
The company heralded its recent strategy as a ‘record-breaking’ investment phase, focusing on expanding and refurbishing its store locations. In addition to enhancing physical outlets, the retailer implemented upgrades to its technological systems, further bolstering its supply chain and machinery. Among these improvements was the opening of its largest distribution centre to date, aimed at facilitating swift delivery within the Midlands.
Moreover, Dreams launched four new store locations and completed numerous store refits. This refurbishment and expansion strategy was part of a broader plan to support the company’s growth and operational efficiency. The initiatives undertaken by Dreams underline its commitment to strengthening its market position.
Chief Executive Officer Jonathan Hirst remarked on the financial year, noting it was marked by unprecedented levels of investment. He suggested that these enhancements were crucial for the company’s prospective success. Hirst stated, “Our strong performance is a testament to the strength and resilience of the Dreams business and brand.” His comments reflect an optimistic outlook, hinging on delivering high-quality products and exceptional customer service as pillars of their continued success.
Looking forward, the company plans to maintain its momentum by continuing to expand its store estate and improving the in-store experience. There is also a focus on elevating manufacturing operations and investing in their workforce, who are integral to the company’s achievements. Hirst expresses confidence that Dreams will remain a beloved bed retailer in the UK, serving as the first choice for customers nationwide.
Dreams’ strategic investments have set a strong foundation for its continued growth and leadership in the UK bed retail market.
