Independent furniture retailer Glasswells has reported a slight decline in sales as profit remained consistent.

According to its latest filed accounts for the year ended 24 February 2024, total sales fell 2% to £27.9m from £28.5m in 2023.

Pre-tax profit resulted at £3.2m, unchanged from the previous year.

Stated within its report, the company said: “We entered the year with a high orderbook, this has lowered to a more normal level and supplier lead times are also back to industry norms.

“The slow down in the housing market has reflected lower demand for removals and storage and fewer people have been changing carpets of curtains. We have worked with our suppliers to keep our promotional offering sharp and passed on any savings that we have been able to negotiate.

“Footfall has reduced but the visitors we have are committed to making purchases, consequently our conversion rate has been high. We have continued to invest in replacement high quality, low energy lights which sharpen up our displays and give an improved atmosphere as well as a better rendition of colour.

“We completed our extension to our warehouse, which is already seeing the benefit of our increased capacity. During the last year we also developed our old premises in Sudbury. Converting the two storey shop to single level with flats above.”