Dreams sleeps easy following successful turnaround
Dreams bed store has ended its third and final year of its turnaround plan with bumper profits and turnover.
The retailer was saved by new owners Sun European Partners after it collapsed into administration in 2013.
However, new financial results show that Dreams’ sales surged by 20 per cent to £280 million in the 12 months to December 2016, compared to £234 million in the same period the year previous, while pre-tax profits jumped by 136 per cent to £32 million.
Dreams also opened 14 new stores in 2016, totalling 181 shops around the country, and expanded its digital presence with e-commerce sales up 34 per cent.
Mike Logue, Chief executive, said 2016 was a “pivotal” year for Dreams.
“Our significant investment, matched by the incredible efforts of our 1850 colleagues across the UK in our factory, our 181 shops and our delivery centres have enabled us to achieve these record results,” he said.
“Whilst potential future challenges to the UK consumer economy are well documented, we are confident that we will continue to successfully execute our strategy and that it will be another year of significant progress for Dreams.”