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Leekes reports 12% rise in LFL department store sales

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Leekes’ retail division has reported a 12% rise in like-for-like sales in 2015-16 (6% in 2014-15), with a turnover figure of £70m. The business has benefited from increased customer confidence and an improved housing market, and said it had seen strong performances in conservatories (increase of 34%), windows and doors (increase of 14%) and kitchens (increase of 6%).

The Leekes business is comprised of six home department stores and four concessions within garden centres, as well as leisure division called The Vale Resort which is a four-star hotel with a luxury spa, restaurant and two golf courses..

MD of Leekes Retail, Emma Leeke, said: “We have continued to make significant investments in our retail business and it is extremely encouraging to note that this investment is paying dividends with Coventry store sales up 17% in 2015/16 and, after several years of successive growth, the Bilston Store was yet again up 13%.

"We are pleased to be continuing with this expansion with the exciting recent acquisition of Park Furnishers of Bristol which will add a further £10m to turnover."

Chairman Gerald Leeke added: “With support from our banking partners Barclays and Lloyds, we continue to invest across our retail and leisure businesses and are delighted that our trading across the group demonstrates the success of this strategy.”

Stephen Leeke, managing director of The Vale Resort, added: "We are delighted to be able to report another record year of profits after investing over £2m at the Resort in the last year.

"Our ambitious investment programme will continue this year. We are currently in discussions with the Vale of Glamorgan Council to add bedroom accommodation in the Castle and are currently undertaking a refurbishment to enhance our restaurant at The Vale Hotel."

Source : Insight DIY

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28 June 2016

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