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|
|Merchandise sales growth||%||66.1||111.3|
|Operating profit margin||%||4.1||(6.6)|
|Stores opened and acquired||18||28|
|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.