Toolstation celebrates 400th branch milestone
Toolstation is celebrating a significant milestone with the opening of its 400th UK store in London’s Balham.
Part of the Travis Perkins Group, the retailer supplies tools, accessories and supplies to the building trade and had a turnover of £354 million in 2018.
In the third quarter of 2019, the retailer’s sales grew by 21.3% and by 15.4% on a like-for-like basis to mark ten consecutive quarters of double-digit growth.
Last year, Toolstation business opened 67 branches and plans to launch a further 60 in 2020.
James MacKenzie, Toolstation managing director, said: “We are bucking the trend, with our growth coming from delivering convenience for our trade customers through their buying experience and as a low-cost, lean and efficient business. This is demonstrated by our branch format, which is smaller than traditional retailers, fitting well into industrial estates and even on local high streets.”
Looking ahead, he added: “2020 is set to be another big year for us with the continued expansion of our retail network. We will also be adding to our product range and maintaining low prices, in turn supporting our customers.”
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