Dreams sales climb following a record investment in store and tech upgrades

The bed retailer saw sales increase 2.2% to £395.4 million for the year ending December 2023. The retailer’s key profit measure underlying EBITDA rose to £59m from £58m for the same period last year. 

During the year Dreams invested a “record-breaking amount” in store expansion and refits, including upgrades to its technology systems, supply chain and machinery as part of a modernisation programme. 

The retailer also opened four new stores, refitted another 22 and opened a distribution centre in the Midlands, which is now its largest, and another warehouse in Gartcosh, which increased its stock capacity by 30%.

Dreams said it has now accelerated its store opening programme, with further new openings targeted for early 2025. 

During the period Dreams also  boosted customer satisfaction levels, according to its customer feedback process shopper satisfaction rates increased 1.7% to 89.6%. 

Dreams CEO Jonathan Hirst said: “Our strong performance is a testament to the strength and resilience of the Dreams business and brand. By staying focused on delivering expertly crafted beds and mattresses and best-in-class customer service, we’ve maintained growth against challenging market conditions.

”The last financial year was a record year of investment for us and we made significant upgrades across our business which will set us up for success. Moving forward, we will continue to expand our store estate and invest in instore experience, manufacturing operations and in our exceptional colleagues, who remain at the heart of our success. I’m confident that Dreams will continue be the UK’s most loved bed retailer, be first choice for customers across the UK and continue to go from strength to strength.”