Beds group aiming for 200-strong store portfolio with new growth plans

Accrington-based nationwide bed and mattress retailer Bensons for Beds unveiled good second quarter momentum and plans for further growth today.

It aims to build its retail site network to around 200 locations, it said.

The business reported nine per cent like-for-like sales for the quarter to end of March, building on the seven per cent like for like sales growth in the previous quarter.

Further progress has also been made in its digital offer, with sales over the quarter in the channel growing by 32% year on year, driven by the continued investment in omnichannel capability and leadership.

Recent trading across the key Easter weeks has also continued to be encouraging.

Building on the momentum across the first half of Bensons’ financial year, it now plans over the next two years to invest significantly in expanding its retail estate.

Having re-modelled its stores to reflect its retail footprint needs as a standalone business, Bensons now intends to re-enter markets and open in new catchments as it builds a network in the long term of up to 200 locations.

In the quarter Bensons has opened new units in Erdington and Peterborough and in April, will be returning to Speke, South Liverpool, with a new store at the New Mersey Retail Park.

Following the smooth relaunch of the eveSleep website under Bensons’ ownership, from the end of March, sales via the eve website have been encouraging, it said.

Chief executive, Nick Collard, said: “This has been a quarter of real innovation and pace for the team.

“Despite the UK’s economic challenges, it’s clear our investment in our stores, online and in product innovation, is being warmly received by our customers.

“I’d like to thank the team at Bensons for their hard work moving our transformation plans forward at speed over the quarter. That momentum means we’re on track to return to deliver our plans for the year.”

Bensons is backed by Alteri Investors, the European retail sector specialist, and became a standalone business in 2020.

In 2022, Bensons secured additional funding from Alteri to drive its growth strategy and transformation plans through investment in stores and digital developments.