Beaverbrooks, the esteemed family-owned jewellery chain, is proudly celebrating its fifth consecutive year of sales growth. The company has seen a 2.9% increase in revenue, reaching an impressive total of £127.4m for the year ended in March 2019. This achievement marks a significant milestone for the British retailer, showcasing its consistent growth trajectory over the years. Despite the rise in sales, the operating profit has remained stable at £12.4m, with a slight decrease in gross profit margins from 17.3% to 16.4%. This dip is attributed to Beaverbrooks’ strategic investments in new stock lines and employee salaries in anticipation of its upcoming 100th anniversary celebrations.
Established in 1919, Beaverbrooks has expanded to become a prominent player in the diamond jewellery and watches market. With a network of 71 stores across the UK and a dedicated team of over 940 employees, the company has solidified its position in the retail landscape. Chairman Mark Adlestone underlined Beaverbrooks’ unwavering commitment to learning, development, and community engagement. The company’s steadfast dedication has been recognized through numerous accolades received over the years. Looking forward to the centenary festivities in 2019, Adlestone expressed eagerness about the future prospects of Beaverbrooks.
Managing director Anna Blackburn also emphasized the key drivers behind Beaverbrooks’ success, citing a robust strategy and continuous investment in personnel, products, and high street locations. Despite the fierce competition in the jewellery sector, Blackburn stressed the importance of the in-store shopping experience for customers. By prioritizing employee training and delivering exceptional customer service, Beaverbrooks aims to offer a distinct and memorable shopping journey for its patrons.
In summary, Beaverbrooks’ consistent sales growth for the fifth consecutive year is a testament to its effective business strategy, employee-centric approach, and unwavering commitment to customer satisfaction. As the company gears up for its milestone 100th anniversary, it remains dedicated to achieving further growth and success in the challenging realm of retail jewellery.
For more information on Beaverbrooks and its offerings, you can visit their official website here. Additionally, to explore more about the latest trends in the jewellery industry, you can check out this informative article here.
