Furniture retailer sees in store and online sales grow double-digit

Furniture retailer OKA Direct has reported a growth in turnover as sales surpassed £30m.

According to its latest filed accounts for the year ended 28 December 2019, total sales rose 15% to £30.1m from £26.3m in 2018.

Gross profit increased from £14.6m to £16.3m, while pre-tax losses widened significantly from £2.8m to a loss of £13m.

Stated within its report, OKA Direct said that its retail stores during the period experienced an increase in sales of 10.1%, while online sales rose 12.4%.

The business has continued to invest in its operational infrastructure, management team, marketing activities and the further development of its digital channel.

OKA added that exceptional costs of £9.31m were incurred in relation to its restructuring activities, the integration of Newsom Designs LLC and other one-off material items.

The performance of Newsom Designs was “below management expectations” and therefore saw the business wind up operations in September 2020.