United franchise making progress
June 26, 2024
The 50+ store franchise United Carpets & Beds – the UK's 3rd biggest carpet retailer – saw sales growth of 3.5% last year in an "ever-tightening" market.
In United's latest filed accounts for the year ended 28 September 2023, sales rose 3.5% to £27m from £26.1m the previous year. Pre-tax profit were £1m, down from £1.5m in 2022, due primarily to investments in warehousing.
United re-registered as a private company under the ownership of CEO Paul Eyre in 2021 and now has 58 stores (one more than 2022) of which 46 were franchised and 12 owned by the parent company.
In the company's accounts statement the directors commented: "The financial year continued to show our strength as a franchise business with our core customer base supporting the network and an increase of 1.1% in LFL sales in an ever-tightening market shows the model continues to work.
“However, the franchise network, like all businesses in 2023, has been hit with the cost-of-living crisis that has been affecting our customers. This is coupled with the continued effects of Russia’s invasion of Ukraine in February 2022 that still adds to the volatility with prices linked to the cost of oil."
It said it had been able to keep price increases to a minimum due to its "excellent relationships" with key suppliers.
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