Dreams, a leading bed retailer, has reported a slight rise in profits, attributed to significant investments in its infrastructure and technology.
- The company’s turnover increased by 2.2%, reaching £395 million by December 2023.
- Investments included expansion of stores and technology upgrades, aimed at enhancing customer experience.
- A new distribution centre was opened to boost delivery efficiency in the Midlands.
- Recent expansions and refurbishments reflect Dreams’ commitment to growth despite challenging market conditions.
Dreams, a prominent name in the bed retail industry, has announced a modest increase in its profits and sales for the financial year ending December 2023, driven by strategic investments in infrastructure and technological advancements. The company reported a turnover boost of 2.2%, culminating in £395 million. Concurrently, its underlying EBITDA saw a slight rise, moving from £58 million to £59 million.
A significant portion of this growth can be attributed to Dreams’ ambitious investment strategy, which CEO Jonathan Hirst described as a ‘record year of investment.’ The retailer focused heavily on store expansions and refurbishments, including the opening of its largest distribution centre in the Midlands. This new facility is geared towards reducing delivery times and enhancing the overall customer experience in the region.
Dreams did not limit its developments to physical locations alone. The retailer undertook substantial improvements to its technology systems and manufacturing equipment, underscoring a commitment to modernising operations. Within the past year, four new stores have been launched, complementing a series of facility refits aimed at improving service delivery.
Moreover, the post-financial year period has witnessed the opening of two additional stores and the establishment of a new distribution warehouse in Gartcosh, Scotland. This development is expected to further support product availability and lead time reductions across the country.
CEO Jonathan Hirst highlighted that these efforts demonstrate the ‘strength and resilience’ of the Dreams brand. By continuing to focus on delivering high-quality beds and exemplary customer service, the company aims to maintain its growth trajectory amidst the prevailing market challenges. Hirst expressed confidence in Dreams’ capacity to remain the UK’s favourite bed retailer, driven by its substantial investments in growth and a robust store network.
Dreams’ strategic investments underscore its dedication to maintaining market leadership through enhanced infrastructure and customer experience.
