A new-look Bedshed store at Joondalup, WA, signals the start of a new era for Bedshed and the 127-year-old Perth company behind it, Joyce Corporation.
The revamped store is boasting growth in a subdued market and is a sign the company’s new strategy – to focus and underpin future maintainable profits – is working.
The fitout program at Bedshed is just one of a number of strategies adopted by parent company, Joyce Corporation, to ensure profitable returns for its shareholders.
“Following the success of the pilot fitout at Joondalup, we have begun rolling out the evolution store update program to our 35 Bedshed stores with Morrabin in Victoria just completed,” Gavin Culmsee, chief operation officer at Bedshed, said.
“The Evolution store update showcases a new concept in retail offering employing the latest technology allowing customers to browse and shop online while in store.
“In addition to the growth at Joondalup last quarter, we’re pleased to see like for like sales continue to grow strongly across the entire Bedshed group.”
Joyce also plans to explore opportunities in other related industries such as the kitchen and wardrobe market to fuel future growth.
Recent investment by the company into the KWB Group, owner of Australia’s largest specialist kitchen and wardrobe retail chain, Kitchen Connection, will allow Joyce to expand and consolidate a fragmented industry.
“We can leverage our retail and franchising expertise to take advantage of this consistent growth in the kitchen renovation market and assist the future growth of Kitchen Connection,” said Anthony Mankarios, executive director of Joyce.
“We anticipate this investment will add significant value to our shareholders through additional cash generation opportunities for the group and a national presence across three growing home renovation markets – bedroom, kitchen and wardrobe.
“We’re confident the foundations put in place by our management team will lead to an ever more positive outlook across the group.”