Department store retail group Boyes has reported a growth in sales as profit remained strong.
According to its latest filed accounts for the year ended 22 February 2025, total sales were up 3.6% to £105.4m from £101.7m in 2024.
Pre-tax profit resulted at £11m, slightly down from £11.8m recorded the previous year.
During the year, Boyes opened five new branches in the period, Inverness in July 2024, Blyth in August 2024, Beeston in November 2024, Llanelli in December 2024 with Wirral opening in February 2025. In addition to these the company relocated to new premises in Doncaster in May 2024.
Customer numbers for the period increased from 12.58m in 2024 to 12.87m, a 2.3% increase. This increase is primarily due to the new branches added in 2024 and 2025.
Stated within its report, the company, which operates from 79 stores across the UK, said: “During the financial year, due to its strong reputation and loyal customer base, the Company has traded successfully in what continues to be challenging circumstances.
“However, it is not immune from the pressures on the current retail climate and the general business environment. The cost of living crisis has continued to have an effect on customer spending and a number of retail brands have experienced difficulties.
“Following the Autumn budget the Company noticed a drop in customer confidence and spending a budget that was supposed to create growth. All retailers are facing extreme pressure from the increased costs in particular from the Employers National Insurance, national living and minimum wage legislation.”
