Overcast

Overcast

max temp: 10°C

min temp: 5°C

ESTD 1874 Search

Retail: Ryman and Robert Dyas deliver increased profits for Dragons’ Den star Theo Paphitis

13:01 03 January 2014

Businessman and retail tycoon Theo Paphitis.

Businessman and retail tycoon Theo Paphitis.

Stationery chain Ryman today became the latest retailer to toast a robust Christmas trading performance as it announced like-for-like sales up 1.7% over the festive period.

shares

The 237-store group is owned by former Dragons’ Den entrepreneur Theo Paphitis, who also hailed improved revenues for his Robert Dyas general store business and the Boux Avenue lingerie brand.

Robert Dyas, which has 96 outlets, grew sales by 5.2% over the period from November 1 to December 24. Boux Avenue - launched by Mr Paphitis in April 2011 and has 21 UK stores and four overseas - increased revenues by 20.2%.

The group said customers responded well to the product offers from all three brands, avoiding the need for discounting and resulting in improved profit margins.

Mr Paphitis said: “Growth was delivered in all three businesses both online and in store. This shows that despite the challenges faced by many high streets across the UK, customers continue to respond to the right product, service experience and a convenience offering, where relevant.”

Annual figures for the year ended in March 2013 were also disclosed, showing Ryman’s earnings held largely flat at £7.1million against £7m a year earlier after increasing like-for-like sales by 0.9%.

Robert Dyas, bought by Mr Paphitis in July 2012, saw like-for-like sales rise 11.2%, with operating profits leaping to £4.9m from £1.1m.

Boux Avenue posted a 60% hike in like-for-like sales, with annual turnover of £18.2 million and an operating loss of £7.1m, in line with expectations for the fledgling business.

The group has recently signed a franchise agreement for the brand to open 29 stores across the Middle East in the next five years while there are also plans to open another 31 sites in two additional markets.

shares

2 comments

  • So Ipswich Star was given a press release on something not relevant to Ipswich, Suffolk or the East of England; and a person thats not even a current TV personality... and published it?! Rymans the flagship company only saw a 1.7% increase? Thats hardly an increase...

    Report this comment

    Ipswich Entrepreneur

    Friday, January 3, 2014

  • Theo Paphitis left Dragons Den last series. Another incorrect story my the "Ipswich star"

    Report this comment

    Ipswich Man

    Friday, January 3, 2014

The views expressed in the above comments do not necessarily reflect the views of this site

Charity evening on the ice at Winter Wondeland in Colchester

Suppliers, small businesses and individuals have “little chance” of getting any of the quarter of a million pounds they are owed from the collapse of Colchester’s outdoor ice rink.

Keith Norman, Fred. Olsen Cruise Lines’ business development manager (back row, centre) launches the company'’s sponsorship of Suffolk FA’s Walking Football initiative at Whitton Sports Centre in Ipswich.

Fred. Olsen Cruise Lines has become a sponsor of Suffolk FA’s Walking Football initiative.

Sam Parnell and Max Shelley of Measured Brilliance

Digital Marketing ‘meetup’ group SIMS teams up with Measured Brilliance and Ipswich Borough Council to help businesses in 2016.

developer John Howard

Town centre homes plans for important Ipswich town centre site close to the Waterfront

Matt Hampson
, founder of the Matt Hampson Foundation, which is being supported by Adnams through sales of its limited edition beer Prop Hop.
Photo: Jason Bye

Southwold brewer Adnams has reintroduced its limited edition beer Prop Hop to coincide with the start of this year’s Six Nations rugby championship.

Most read

Fred Olsen Travel Sale

cover

Click here to view
the Fred Olsen
Travel Sale

View

Most commented

HOT JOBS

Show Job Lists

Topic pages

Streetlife

Great British Life

Great British Life
MyDate24 MyPhotos24