THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Select reports annual 18% like-for-like sales increase as it looks to expand

Value fashion retailer Select has reported an 18% rise in annual like-for-like retail sales in 2011.

GENERAL MERCHANDISE

Select reports annual 18% like-for-like sales increase as it looks to expand

Value fashion retailer Select has reported an 18% rise in annual like-for-like retail sales in 2011.

The retailer also enjoyed a surge in Christmas sales which rose by 45% in November and December 2011. Turnover rose 22% to £46.3 million in the year and there was an 88% reduction in pre-tax profit loss from £3.4 million to £400,000.

Select grew its store portfolio to 135 in the year including opening in new locations such as Manchester Arndale and Liverpool Church Street. The company said it plans 30 new prime location openings in 2012, including Westfield Stratford City in February, and forecasts that 500 new retail jobs will be created as a result.

The brand said its expects to hit £80 million turnover and £2.5 million pre-tax profit in 2012.

Chief executive, Cafer Mahiroglu said: "Select has emerged as an ongoing success story in the battered high street retail market. We’re attacking with a combination of the right product at the right price and a hands-on, ambitious approach from the top-down. As evidence suggests, in recessionary times there is sustained, even growing demand for a viable alternative on the high street for trend-driven, affordable fashion product."

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Payment Roundtable 2019
Payment Roundtable 2019
6 February 2019
The Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
The Retail Bulletin Payment Roundtable will raise debate and discussion centred on but not exclusive to improving the in-store payment process