Online furniture retailer Atlantic Shopping, the online trading name of V.N & Britannic Warehouse, has reported another decline in sales.

According to its latest filed accounts for the year ended 31 December 2023, total sales fell 22.3% to £8m from £10.3m in 2022, adding to its decline of 23% from £13.5m in 2021.

Pre-tax profit resulted at £1.1m, unchanged from the previous year.

Stated within its report, the company said UK sales were down 21.8% to £6.8m from £8.7m, while EU sales were also down by 25% to £1.2m from £1.6m.

“In the reporting period, the company experienced a decline in revenue, primarily driven by weaker consumer demand and continued pressures in the broader market environment,” the group added.

“The global economic slowdown, rising inflationary costs, and shifting consumer preferences have contributed to reduced spending in key segments of our business. The decline in consumer demand, particularly in our core product lines, has been a significant factor in the reduction of revenue.

“While the current market pressures have affected short-term performance, we remain confident in the long-term viability of our business. The strategic adjustments we are making position us to navigate these challenging conditions and capitalise on future opportunities as market conditions stabilise.”