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Birmingham Post
Birmingham Post
Business
Jon Robinson

Sales rise at Bensons for Beds after rescuing Eve Sleep out of administration

Bensons for Beds has reported a rise in its sales for the last three months of 2022 - the same period in which it rescued Eve Sleep out of administration.

The Accrington-headquartered retailer has reported its like-for-like sales rose by 7% in the quarter compared to the same period a year earlier.

The business added that it also made a "positive start to its peak trading period", starting on Boxing Day, with sales continuing in line with the trends seen in the Christmas quarter.

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Across the quarter, Bensons saw a 41% growth in online sales, with digital transactions now running at double pre-pandemic levels.

It added that the quarter also saw "an encouraging early performance" from Eve Sleep.

Bensons for Beds is backed by Alteri Investors, which had a significant stake in Manchester-headquartered online fashion brand Missguided as it entered administration last year before being rescued by Mike Ashley's Frasers Group.

Following the opening and relocation of 18 stores in the previous 12 months, Bensons was trading from 168 stores by the end of 2022. It has set out its goal of growing the network to 180-190 stores over the next two years.

Chief executive Nick Collard said: "Our performance over the quarter provides a good indication that our investments across the business are beginning to bear fruit.

"We have made big steps towards our goal of becoming a market leading omnichannel retailer reflected in the rise in sales at an important time of the year. Although we expect the market to remain challenging, we remain well placed to navigate the year ahead.

"I’d like to thank the dedication and hard work of all our colleagues as we continue to transform the business as we invest online, in stores and in our ranges."

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