Pharmacist and mobility retailer John Bell & Croyden, part of the healthcare group that owns Lloyds Pharmacy, is on track to recover the huge investment it poured into refurbishing its London base two years ago.
Operations director Robin Winfield revealed to AMP that his plans to recuperate the money are ‘going very well so far’ after the business’s turnover dropped from £12m to £9m between 2015 and 2016, according to company reports. During the period the company made a loss of nearly £1m in comparison to profits of around £1m in the previous period.
The drop in turnover was largely attributed to the major refurbishment and a temporary loss of store space but Winfield’s mission to bump the firm’s profits, which include broadening and improving its mobility arm, are going according to plan.
The store hadn’t had a major investment in it for about 15 years said Winfield. “Most retail businesses will need to be refitting every five years to keep it modern and updated. My challenge was to demonstrate that this business could grow and be profitable and we could ultimately pay back the investment. Thankfully, that’s going very well so far.”
The store was given a complete facelift and restructure so that a premium retail experience was created. The move saw the business win a Retail Week award this year, beating the likes of John Lewis.
The environment was completely reworked and the whole store was money-mapped so now everything that takes a certain amount of money acquires a certain space. As part of its initiative Winfield has installed the rear half of a Jaguar onto a wall so that customers can try loading different folding boot scooters, as well as a number of other innovative initiatives.
John Bell & Croyden, part of the Celesio group of healthcare companies is a warrant-holding business and serves the Royal Household, as well as a number of wealthy clients.