British value-for-money retailer Peacock reported a sales increase of 11.8 per cent to GBP 548.2 million. The company announced its preliminary results at the end of May, revealing a buoyant year.

The Group’s like-for-like sales were up 3.6 per cent. Profit before tax climbed 6.9 per cent to GBP 38.5 million and gross product margins increased significantly across the board. Dividends per share increased 11.5 per cent to 8.7 pence. The stores value fashion focus continues to drive strong and consistent growth.

Peacock opened a record 95 new stores under three retail franchises and refurbished 101 further stores. 80 per cent of all Peacock store now exist in the new format. The Group’s other two businesses, Bonmarché and The Fragrance Shop, met expectations. Bonmarché management strengthened and improved its offer and the Fragrance Shop accelerated its expansion. The Group plans 80 new stores this year, creatingly roughly 800 new jobs.

“Our strategic change programme has transformed Peacocks into a fashionable chain that is able to compete with the best on the high street, at compelling value prices. We are now undertaking a similar process to align Bonmarché more closely with the needs of today’s consumers, and expect this to deliver significant benefits in the medium-term. The successful acquisition of The Fragrance Shop gives us a third strong brand with which to address the growing value retail market, and we are applying our established skills to drive rapid expansion of its concept,” said Chief Executive Richard Kirk.

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