Historic city retailer Lee Longlands has delivered some rare upbeat news on the High Street after sales rose by 15 per cent.
The century-old Broad Street firm saw gross sales hit £16.4 million last year, and said the upturn in fortunes was down to a move back into the higher end of the market.
The company’s operating profit increased 64 per cent to just under £300,000 at its stores in Birmingham, Cheltenham, Leamington Spa and Abingdon.
It has prospered from returning to its roots of high-end products, after flirting closer to the budget end of the market.
Financial director Darren Campo said he was pleased to have achieved these positive results in a “demanding economic climate” that is still very tough for retailers.
He said: “The management team took the decision to return to the core values of the Lee Longlands brand and focus on the higher end of the market and this has resulted in stronger sales and an average sale per item increase of 100 per cent.
“Another feature of the last twelve months has been our ability to lay strong foundations for future growth. We’ve successfully streamlined certain areas of the business, whilst continuing to improve the customer experience through investment in training, store layout and by embracing online sales and social media.
“We are confident that the current business model gives us the platform to build on the recent growth and maximise future opportunities”.
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The well-known city brand, founded by George Longland and Robert Lee in 1902, generated more than £540,000 in cash over the year.
Mr Campo said the future strategy would see the home furnishing specialist roll out new brands, as well as bringing out more of its own range of sofas under the ‘Heritage’ brand.
There are also plans to identify and launch new stores across the Midlands and on-going investment in e-commerce.
Meanwhile, Robert Lee, a fourth generation family member and current director, said a clearance event this weekend had boosted job figures.
He said: “Demand is expected to be high across all our stores and we’ve had to take on a number of new staff to cope with the anticipated footfall.”
Lee Longlands celebrated its 110th birthday last year, and lays claim to a number of firsts, including what is thought to be the first motorised delivery van in 1912, the installation of after-hours window display lighting in 1907, and pioneering the use of television advertising in the early 1970s.
The firm has also survived two world wars and countless crises in consumer spending to remain a constant presence in the city.