Independent ready to exploit renewed consumer focus in home improvements

Independent furniture retailer Cookes Furniture has reported a decline in sales, albeit small, but did return to profit.

According to its latest filed accounts for the year ended 31 March 2020, total sales dipped 4.1% to £9.2m from £9.6m in 2019.

Gross profit remained static at £3.8m, while pre-tax profit resulted at £19,000, significantly improving from its loss of £11,000 the previous year.

Stated within its report, Cookes said that its core business has delivered an improvement of over four percentage points over the last few years and has scope for “further growth already showing in the current trading year”.

Within its Bathrooms business, the retailer said performance was “disappointing” due to delayed decisions in purchases as a result of “the fog of Brexit”. Its storage service has followed its growth plan, growing both its top and bottom lines.

Looking ahead, Cookes added: “The return of activity to the housing market in 2020 will channel opportunities into each of the group companies. Cookes is well positioned to benefit from this renewed consumer focus on the home and investment in premium homewares.”