20 May 2024, 10:00
By Furniture News Jul 04, 2023

Bensons posts third quarter of LFL growth

Bensons for Beds continued its FY23 sales momentum in Q3, posting an +8% LFL sales increase for the three months to the end of June.

This consistent LFL sales growth maintains the +8% growth posted for the first half of Bensons’ current financial year (+7% in Q1 and +9% in Q2).

Bensons also continued to see strength in its digital offer, which grew by +21% over the quarter thanks to investment in omnichannel capability and leadership, says the retailer.

During the quarter, Bensons refurbished its Croydon store and opened a new location in Speke. In addition, it expects to open and relocate "a significant number" of stores during the next quarter – part of plans to invest in its retail estate over the next two years.

Bensons also continued to drive new product innovation, launching Duo by Slumberland, a mattress that has been designed to keep customers cool in summer and warm in winter.

Bensons confirmed that eveSleep saw seen significant sales growth, nine months after its acquisition, and the retailer completed the move to bring the brand to physical stores across the UK.

Bensons says the eveSleep website continues to trade profitably, and that the brand has been strengthened by the introduction of exclusive eveSleep hybrid mattresses to stores. In-store sales of hybrid mattresses have grown by around +60% since they were launched at the end of March.

Nick Collard, Bensons' CEO, says: “The steady nature of our growth across the quarter and year to date, is a reflection of the significant work behind the scenes at Bensons to transform our business.

“I’m especially pleased at the successful introduction of eveSleep to stores. We knew when we acquired the business last year, we could offer it significant opportunity to grow under our ownership. The impact eveSleep is clearly making with our customers gives us confidence that, alongside other investments we’re making in product innovation, we’re building a unique portfolio of sleep solutions that can cater to every individual need.

”And while there’s no doubt the UK’s economic situation will continue to bring challenges, we’re pleased with the continued and consistent progress this year.”

© 2013 - 2024 Gearing Media Group Ltd. All Rights Reserved.