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Friday September 5th 2008

Respite for retail as Original Factory Shop results reflect year of growth

Archived article dated Friday September 5th 2008

The Original Factory Shop has reported a sales increase of 17.4 per cent and rise in profits of 16.4 per cent.

Sales growth from 1st April 2008 to the week ending 24th August 2008 saw gross sales up 16.8 per cent and profit margin 80 basis points ahead of last year.

The company, which currently trades from 91 sites across the UK will open a further 13 new stores before Christmas and is on target for 20 new stores by the end of the current financial year.

George Foster, CEO of The Original Factory Shop believes the continued success of the business is based upon the quality of its value offering at what is a difficult time for the consumer. He commented: “Despite the difficult retail climate, our last financial year has been our strongest yet and the result of a cohesive property strategy and dynamic product mix which, together, position us very well with consumers.

“People are without doubt tightening the purse strings but they still need to buy everyday essentials and, more than ever, are seeking out the good quality, value products, which the Original Factory shop is recognised and well loved for.

“Our diverse property portfolio is also a crucial factor - because our stores aren't homogenised the flexibility we can offer is massive. We operate from former supermarkets, cinemas, factories and even road side locations. Stores can often be located less than 10 miles from each other, which gives us further competitive edge at a time when any advantage is a huge bonus. With such a solid base to work from, we're certainly cautiously optimistic for the future.”

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