5 Jun 2013 07:00
JOHN LEWIS OF HUNGERFORD PLC
Launch of bedroom furniture range
John Lewis of Hungerford plc ("the Company") today announces its intention to widen its product range to incorporate bedroom furniture for the first time. The range will be launched later this month and will be marketed alongside the core kitchen offering within existing showrooms and from a dedicated showroom at the Company's Wantage head office. As is the case with its kitchen business, bedrooms will be installed in customer's homes by the Company's own installation business, the Artisan Installation Service.
The move is part of an on-going strategy to deliver greater efficiencies by increasing the volume of business driven through the Wantage factory. The bedroom category utilizes the Company's core competencies in the areas of design, manufacture and installation. The new bedroom offer is capable of being traded from the existing retail estate without significant further investment.
In addition the Company today provides an update on current trading. The recent interim result announcement highlighted sales outturn in the first half year being approximately 11% greater than last year. The Company continues to trade strongly and now expects to report a similar rate of growth for the full year enabling it to generate a small operating profit.
Malcolm Hepworth, Chairman, commented:
"The diversification into bedroom furniture is an exciting development and reinforces our commitment to growing the business despite the difficult wider economic climate. We are confident that both new and existing customers will welcome the wider range of quality British made furniture that we will now be able to offer."
Enquiries: | |
John Lewis of Hungerford plc | 01235 774300 |
Jon Rosby, Managing Director | |
Smith & Williamson Corporate Finance Limited | 0117 376 2213 |
Martyn Fraser | |