Department store retailer grows sales and bottom line

Department store retailer Bradbeers has reported a growth in sales as well as a return to profit.

According to its latest filed accounts for the year ended 2 February 2020, total sales rose 7% to £22.2m from £20.7m in 2019.

Gross profit increased from £7.2m to £7.7m, while pre-tax profit resulted at £1.3m, significantly improving compared to its loss of £5m recorded the previous year.

Stated within its report, the company said that gross margin improved to 47.3% from 46.3% during the year due to improved buying and a shift in sales mix, which also lead to an improvement in operating profit to 10% from 8.7%.

The company added that orders were up 25% since it reopened from the initial lockdown earlier last year due to the Covid-19 pandemic.