Independent department store group Morleys has reported a growth in sales.
According to its latest filed accounts for the year ended 1 February 2025, total sales rose 2.6% to £100.5m from £97.9m in 2024. Excluding concession sales, turnover stood at £63.4m, up from £61.1m.
Pre-tax profit resulted at £2.3m, slightly down from £2.7m recorded the previous year.
Stated within its report, the group said: “The challenging trading environment seen in recent years continued into 2024/25 as consumer spending was adversely affected by the UK cost of living crisis. Despite both inflation and interest rates falling, the group faced significant cost pressures, most significantly in payroll costs.
“During the year the Group expanded the Camp Hopson department store business in Newbury by opening a new 20,000 square foot Home Store. The group also opened a new Fiona Finds Store in Lowndes Street, London, selling curated tableware, accessories and gifts.
“On 30 April 2025, Morleys (Tooting) Limited closed its department store and ceased trade at that date.
“On 7 March 2025, the ultimate parent company Morleys Stores Ltd entered into a lease with Bath council to operate the historic Jollys department store in Bath trading as Jollys (Bath) Limited.
“The Store, operating from 60,000 square foot, will be a full line department Store including a significant fashion, beauty and home offer and will include a strong hospitality and services offer. The Store is due to open in September 2026.”
Within the group, Pearsons reported sales of £16.5m, down from £16.8m, with a pre-tax profit of £607,000, down from £833,000. Elys of Wimbledon saw sales rise from £32.9m to £33.9m, with pre-tax profit resulting at £2.4m, down from £2.8m.
Morleys Group is a chain of independently owned department stores operating in the South East under a variety of different fascias including Morleys (in Brixton), Roomes of Upminster, Pearsons of Enfield, Elys of Wimbledon, Selbys and Camp Hopson.
