Beaverbrooks held turnover at £217 million in the year to 1 March 2026, but higher costs cut its underlying operating profit by 9 per cent to £7.8 million.
Group sales slipped 0.1 per cent, while like-for-like sales rose 1.1 per cent, worth an extra £2.4 million. The family-owned jeweller said higher employer National Insurance contributions and the rise in the National Living Wage pushed up costs.
A £5 million insurance claim relating to previous years lifted total operating profit 49 per cent to £12.8 million. Pre-tax profit was £5.6 million, compared with £340,000 a year earlier.
Beaverbrooks continued to invest across stores, product and digital, including new brand partnerships with Coach, Nomination and Astley Clarke. It opened its fourth Loupe boutique in Sheffield and is refurbishing its store portfolio through 2026/27. A new 80,000 sq ft head office is due to open next year.
Managing director Anna Blackburn said: “The year ahead will not be without its challenges.”
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