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Markets / FURNITURE / 11th Jun, 2014

Showroom investment to impact FY profits, says John Lewis of Hungerford

 

Premium fitted furniture vertical John Lewis of Hungerford said it is trading ahead of last year but warned that earnings would be lower as it invested in its store estate.

 

The manufacturer and retailer said profits wouldn’t match last year’s figures as a result of new showrooms at Chiswick, which opened in May, and Cobham, slated to open at the end of next month.

 

AIM listed John Lewis of Hungerford said in a trading update that its aggregate of dispatched sales and forward order book at 31st May stood at £6.3m, up 8.9 per cent on the comparable period a year ago.

 

The results are derived from a comparable showroom estate year-on-year, it added, with the current year including £206k relating to the new bedroom range launched during the current period.