Showroom chain Easy Bathrooms has set out ambitious growth plans that will see it aim to open 60 new locations by the end of next year, and significantly increase turnover.
The retailer, which was founded in 2012, has grown rapidly over the last two years and its latest set of accounts showing it made operating profit of £6.2m in 2020, on turnover of £46m. The firm now says it is forecasted to reach £93m turnover this year, before going on to achieve £130m in 2023.
Growth is to come from widespread store openings, adding to its existing network of 117 – including 69 locations opened since the start of the pandemic. Easy Bathrooms says it has already launched 17 showrooms this year.
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The firm is building a £10m, 330,000 sqft distribution and logistics hub in Wakefield which will open in autumn. Meanwhile, Easy Bathroom’s headquarters in Birstall – a 110,000 sqft site – will be repurposed into the largest bathroom and tile destination in the UK.
Craig Waddington, the firm’s founder, and majority shareholder, said: “We have made a better-than-expected start to 2022. Our sales in the last 12 months have hit £54m and in this financial year we expect that to increase to £93m. We are well placed to keep growing, and we are proud that our growth trajectory means we will keep creating much needed jobs, each and every week.”
Mr Waddington continued: “The high street is changing. And I’m often asked why we keep rolling stores out when others are closing theirs, and the honest answer is, what other bathroom brands do you know where the price is right, the quality is good, the range of choice is wide, you can browse the products before choosing them, and, whether you’re in Leeds or London, there’s likely to be a store near you? We are creating what the customer wants – we put them at the heart of our strategy, and it’s paying off.
“By opening new showrooms, we’re creating the opportunity for more customers to shop with us, whilst investing into our online store too, for those without a showroom close to them yet. We’re excited to provide new customers with access to our award-winning products and unbeatable value.”
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