Jeweller calls on chancellor to give retailers a break

Lancashire headquartered Beaverbrooks Group has called on the government to avoid piling further costs on retailers as its latest figures revealed a resilient performance in tough conditions.

The St Annes based national jewellery retailer revealed a nine per cent fall in underlying operating profit to £7.8m last year after rises in employer national insurance contributions and the minimum wage.

Managing director Anna Blackburn told The Guardian newspaper she wants the government to help boost consumer confidence and provide stability by tackling unemployment and inflation and cautioned against new taxes in next month’s Budget as retailers prepare for Christmas.

She said: “The government can’t increase business costs much more. Give business a bit of a break and stimulate some growth and confidence. A long term joined up strategy is critical.”

Group turnover fell 0.1 per cent to £217m, while like-for-like sales rose by 1.1 per cent, worth an extra £2.4m. The business continued investing in its people, stores, partnerships and communities and has also strengthened its product development.

Anna Blackburn said: “The resilience of our performance and growing like-for-like sales is testament to our strategy.

“We continued to invest in our people, product, stores, digital and e-commerce offering to ensure we can provide the best possible products and service to our customers.

“Our business has remained strong for 107 years because we believe in the high street and the importance of exceptional products and customer service.”

Looking ahead, she said: “Despite a challenging retail environment we remain optimistic and continue to focus on what we can control: a strong team, a clear plan, and a customer offer that continues to resonate with existing and new customers alike, whether people are shopping for a major milestone, a gift or a self-purchase.

“We’ll continue to invest in our people, product and stores – continuing the long-term focus that strengthens the business – while staying agile to adapt to any short-term challenges.

“The year ahead will not be without its challenges, but we go into it with momentum, confidence in the fundamentals of the business, and a long-term view of what Beaverbrooks can achieve.”

The group donated £1.54m to charities and local causes during the year, taking the total donated since 2000 to £26.6m.

Chairman Mark Adlestone said: “At Beaverbrooks, we take our commitment to charity and community very seriously. We’re proud to have donated £26.6m since 2000, and even prouder of our people who choose, year after year, to give their time and money to causes that matter to them.”

Earlier this month the group, which owns Beaverbrooks as well as and luxury watch and fine jewellery boutique retailer Loupe, revealed it had grown its leadership team after a string of appointments.