Beaverbrooks sees sales and profits fall amid ‘challenging environment’

The Beaverbrooks Group has reported a fall in turnover and profit for the year to February 2025, but said it remains committed to investment and charitable giving as it marked £25m in donations since 2000.

The family-owned jeweller recorded group turnover of £217.3m, down 3% from £224.3m the previous year. Its operating profit also fell 20% to £8.6m, which the company attributed to rising costs in a challenging retail environment.

Despite the decline, Beaverbrooks invested £9.5m in refurbishments across 11 stores, including £2m in Glasgow’s Braehead outlet, £1.6m in Bracknell and £1.5m in Peterborough. 

A further £1.5m was committed to modernising its e-commerce systems. The company also closed seven stores it said were no longer commercially viable.

Charitable donations from company profits totalled £1.6m during the year, taking the cumulative figure given through the Beaverbrooks Charitable Trust since 2000 to £25m. 

Employees also volunteered 4,300 hours to community projects, while 45% contributed to payroll giving schemes.

The company, which employs staff across 83 stores, said it continues to prioritise staff training and development. 

A new two-day course for sales managers was rolled out across the business last year. Beaverbrooks has also been awarded three-star accreditation by Best Companies for employee engagement.

Additionally, Beaverbrooks’ product investment included the Beyond Brilliance diamond range, which exceeded sales projections, and the Clover jewellery collection, which performed strongly through Christmas.

Anna Blackburn, managing director of Beaverbrooks, said: “We are very proud of the commitment, resilience and hard work shown by our teams across the UK to deliver strong results in what was a very difficult year for the sector. 

“Through the challenges, we have had to make some difficult decisions. However, we have stayed true to our values and purpose of enriching lives, leaving us in a strong position – growing our market share and still achieving results to be proud of.”

Mark Adlestone, chairman, added: “It’s been a tough year across the industry and I am very proud of the efforts that our colleagues have put in to achieve these results. 

“It is part of our DNA as a 106-year-old family-owned business to enrich lives through supporting charities and communities, so I am incredibly proud that we have reached such a significant milestone of donating £25m to charities since the year 2000.”