Beares targets customers in the LSM 7 to 9 categories wanting more aspirational furniture than the group’s other brands, while utilising in-store credit facilities.

Beares focuses on offering an exclusive and innovative range of aspirational furniture.

While aimed at a higher target market than Lewis and Best Home and Electric, Beares applies the group’s business model and utilises the well-established credit infrastructure.

Stores average 430m2 and are located mainly in high traffic areas.

Financial and operating performance    2017 2016
Revenue Rm  729.6 426.9
Revenue growth 70.9 100
Merchandise sales Rm  497.1 299.3
Merchandise sales growth 66.1 111.3
Credit Sales 57.1 50.4
Operating profit/(loss) Rm  29.6 (28.3)
Operating profit margin %   4.1 (6.6)
Stores opened and acquired    18 28
Total Stores   125 107
Total trading space m2    50 053 45 622
Annual revenue per m2 R’000  14.5 9.4

The brand is now showing an operating profit as trading densities improved, and cost structures and financial services income streams have started to mature.