Furniture Village grows profits and store footprint

Order intakes at the furniture specialist grew 12.4% to £265m in its full-year to March 27, with like-for-like orders up 10%.

Furniture Village chief executive Peter Harrison said: “Our overriding philosophy is to ‘do it properly’ and it’s evident that consumers like what we do and they like how we do it.”

The retailer, in the process of growing its store footprint, opened new stores in Enfield, Northampton and Stevenage during the period.

“As we expand and benefit from efficiencies in scale we will stay focused on reinvesting in our business to ensure we deliver a strong, sensible and sustainable rate of growth,” Harrison added.

Current financial year

Since year-end the retailer has launched a “greatly improved” web platform, and opened a new store in Preston.

Furniture Village plans to open another six stores before March next year, which will take its store estate to 50.

It also said it will be making “unprecedented levels of investment in infrastructure”, in the coming months in order to launch an enhanced distribution network and a fully integrated enterprise resource planning (ERP) solution.

Regarding the UKs decision to leave the EU, Harrison said: “Potential threats posed to business by ‘consumer uncertainty’ and ‘rising inflation’ cannot be ignored.

“We will however be taking whatever actions are necessary to ensure that we successfully navigate through expected turbulence and remain on a course of profitable growth.”