Exclusive: Profits climb at Dreams for fifth year
As Dreams posts sales and profit growth for the fifth year in a row, Retail Week talks exclusively to boss Mike Logue about how the beds specialist continues to avoid the nightmare that so many other retailers are facing.
Dreams posted sales of £309m – up 2.9% – as like-for-likes climbed 1.9% for the year to December 24, 2018. Profit before tax rose 11.7% to £32.7m during the same period and the group remained debt-free at the year-end.
Rewind five years and Dreams was bought out of administration by Sun European after the retailer collapsed into administration with debts of £106m. The private equity firm quickly parachuted in Mike Logue to turn around its flagging fortunes.
As chief executive, Mike Logue has overseen growth since taking the helm in 2014, bringing new technology, store openings, recycling services and innovative products with him.
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