CSL takes the High Road as sales soar
WARRINGTON sofa retailer is expanding into Scotland for the first time on the back of a record year for sales and profits.
The privately-owned company is opening its first store in Glasgow this year and also plans to set up a distribution base just off the M8 between Glasgow and Edinburgh.
The group, which has 22 stores across the UK, increased sales 43% in the year to 31 December 2012 to £110m.
This surge was driven by a huge increase in its direct orders and online business, combined with the impact of its three newest stores in Thurrock, Croydon and Hull.
Annual like-for-like sales were up 16% on 2011 and the company enjoyed one of its best Christmas trading periods. Revenue in the five weeks to 6th January 2013 was 15.6% higher than the previous year on a like-for-like basis.
Profits for the year to December 31 2012 increased to £2.5m (2011: £0.2 m). Earnings (ebitda) for the same period was £3.6m (2011 £1.1m)
CSL’s first Scottish store will be at Abbotsinch Retail Park in Paisley, Glasgow. It will be 20,000 ft and is scheduled to open before Easter. The expansion will create over 100 new jobs during 2013 and involve a total investment of £4m.
Expansion in the South East is also a major part of CSL’s expansion strategy. The company will open a new 22,000 sq ft store in Slough in May this year, its fourth in the South East, creating 30 new jobs.
Managing director Jason Tyldesley said: “Our performance has been driven by product innovation and design, and a relentless focus on providing the best customer service in the industry.
“We’ve increased customer loyalty and driven sales by offering a unique love it or exchange it guarantee which takes the uncertainty out of buying a sofa. This has led to more of our customers recommending CSL to their friends and family than ever before.
“The strength of our performance during the last 12 months has given us the confidence to continue our investment and expansion. Our big focus is on expansion into Scotland, South East England and building our direct and ecommerce business, which has been a major part of our organic growth during the last year.”
