Mattress Online, a well-known British bedding retailer, reported its performance in the latest fiscal year. Although the total sales decreased, the overall performance was in line with its five-year plan.
According to the latest recorded accounts as of May 31, 2022, the total sales of Mattress Online was 28.7 million pounds, down 23% from the same period last year (37.4 million pounds). Pre-tax profit was £ 1.4 million, down 57% from the same period last year (£ 3.3 million).
Mattress Online said in its report that despite the year-on-year decline in sales, its revenue has increased by 104.3% in the past five years, and its gross profit margin has remained at a strong level of 46.5%.
In the past year, Mattress Online launched a new e-commerce website, achieving continuous growth in conversion rates and average transaction value. In addition, Mattress Online has expanded its staff by 28%, and has received more than 55000 comments on the third-party customer review website Trustpilot, with an excellent rating of 4.8/5.
Steve Adams, CEO of Mattress Online, commented on the results: “As we enter the post-lockdown world Consumer spending behavior has also changed. In the financial year ended May 31, 2022, we achieved satisfactory results, and the growth of performance was in line with our five-year business plan. Although we still face certain inflationary pressures, our gross profit rate remains stable. “
“In the face of a difficult macroeconomic environment, the trading situation of this fiscal year is in line with our estimates. In the new year, we will continue to consolidate our performance growth, invest in back-office departments and team building, and expand the ESG strategy and retail footprint.” Steve Adams added.
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