Operating profits climb at East of England department store giant

25th November 2009 | retail | Norwich department store retailer Jarrold says its stable business platform is helping it trade through the current cyclical downturn - as the firm lodged a slight rise in profits for the year to 1st February.

Group accounts, which also include non-retail subsidiaries, show sales fell just 4% year on year to £27.3m - buoyed by strong Christmas trading in what was an otherwise challenging second half.

Operating profit rose to £2.39m from £2.38m - with the firm saying its retail IT investment had helped it improve margin and efficiencies. Pre-tax profits were down, but only because of an exceptional fixed asset disposal making £3.3m for the firm the prior year.

Jarrold's main department store is in the centre of Norwich, but it also runs a dedicated furniture store in nearby Wymondham, and other satellite stores across the East of England region.

The AIS member retailer stocks furniture brands including Tetrad, Sleepeezee, and Old Charm as well as flooring from the likes of Brintons, Karndean and Cormar Carpets.

Jarrold's five year turnover peak came in 2006 (£32.2m) - which also coincided with its only operating loss (£0.15m) during that period.