Business News

Luxury retailer Arighi Bianchi cuts losses as sales rise despite pandemic hit

Gross sales elevated and losses had been minimize at historic furnishings and interiors enterprise Arighi Bianchi, which has counted the British Royal Household amongst its clients, throughout its newest monetary 12 months regardless of the affect of Covid-19.

The retailer has reported a turnover of £15.1m for the 12 months to June 30, 2021, up from the £14.7m it posted in the course of the prior 12 months.

Its pre-tax losses additionally decreased from £601,138 to £119,315 over the identical interval.

READ MORE: Subsequent indicators decade-long deal to open main Trafford Centre retailer

With a heritage that dates again to 1854, Arighi Bianchi – famed for its iconic grade II-listed constructing in Macclesfield – is without doubt one of the longest operating family-owned furnishings companies within the UK.

The corporate sells a variety of latest furnishings and equipment for the house, in addition to carpets, flooring, blinds, curtains and fitted kitchens via its Kitchenality concession.

A press release signed off by the board stated: “The directors report it has been another difficult year due to the continued impact of the Covid-19 pandemic, with store closures for four months of the last year, however, online sales have continued to go from strength to strength.

“This 12 months’s loss has been pushed by the continued Covid-19 pandemic, nonetheless, the administrators don’t see this loss persevering with in future years because of the excessive footfall because the retailer reopened in April 2021.

“The directors are pleased to report a significant improvement on performance for the first four months on last year’s trading figures, until the store had to temporarily close in November 2020 and again from January until April 2021.

“We noticed continued development in our on-line gross sales in the course of the 12 months and vital demand for the final three months of the monetary 12 months when the shop opened once more in April 2021.

“Year on year, total turnover increased by £400,000 (3%) even though the store was closed for four months.

“With our sturdy model identify, continued funding in our web site and new built-in IT methods, we really feel we’re effectively positioned and in a robust place to make the most of the continued pent up demand generated from the Covid disaster over the subsequent 12 months along with a rise in new housing developments.

“With our good product mix and large product range, we are confident we can push forward and deliver continued sound financial performance and continue to grow our market share.”

Supply hyperlink

Leave a Reply

Your email address will not be published.