Far from retreating in the face of covid-related restrictions over the past two years, Leeds-based Berry’s has forged ahead with refurbishments, reconfigurations and new store openings.
Berry’s has nine showrooms: three in Leeds, including the flagship Albion Street store where the company is headquartered; two in York; and one each in Newcastle, Windsor, Hull and Nottingham.
A third boutique will open later this year in York, anchored by Patek Philippe and offering a range of Berry’s own precious jewellery.
“What a fantastic year we have had and 2022 looks even more exciting, with several projects in the pipeline, the first being the addition of our third showroom in the historic City of York,” the company said at the announcement of the new York store.
Figures came out today supporting the proclamation of a fantastic year.
Sales rose by 16.5% to £56.4 million, Berry’s highest ever turnover, despite physical stores being closed for four months in the financial year that ended in June 2021.
That helped boost operating profit by 128% to a record £10 million.
Berry’s is celebrating its 125th anniversary this year and is continuing to invest in ecommerce and physical expansion.
Along with the Patek Philippe-anchored store in York, Berry’s has purchased an adjoining unit to its store in Nottingham and will open an Omega boutique in the city.
It is also opening a Vacheron Constantin boutique in Leeds.
The business does anticipate continuing headwinds for the wider retail market and makes a particular note about the impact of VAT rebates being withdrawn when the Brexit agreement came into force in January last year.
“Turnover (particularly for the Windsor store) will continue to be adversely affected by the decision to abolish the VAT Retail Export Scheme, meaning that non-EU visitors are not able to reclaim the VAT on purchase made in our stores when they are exporting the items in their luggage,” a note with the Berry’s accounts records.
