BrightHouse, the retail chain specialising in the sale of household products, announces plans to open up to 24 new BrightHouse stores in North-East England. BrightHouse’s 5-year expansion strategy will bring the number of BrightHouse stores in Tyneside & Teesside to 42 in total.
BrightHouse currently has 18 stores in the North-East, which employ over 143 staff. Each new BrightHouse store will create approximately 7 new jobs, amounting to 168 new positions. This expansion is core to BrightHouse’s growth strategy of actively investing in communities in which BrightHouse does business.
BrightHouse’s North-East expansion plans are part of its wider strategy to increase BrightHouse’s store portfolio across England, Wales and Scotland. BrightHouse’s plans follow operational improvements over the last 3 years, which have seen BrightHouse offer high quality household goods at competitive prices and strong customer service levels through local community engagement.
Since 1st April 2008, BrightHouse has opened 21 new stores across the UK, bringing BrightHouse’s store portfolio up to 177 stores.
In the year to 31 March 2008, BrightHouse delivered turnover up 12.7% to £145.9 million, like-for-like turnover up 11.7%, operating profit up 39% to £19.1 million and profit before tax up 60% to £20.1 million. In addition, BrightHouse reported strong Christmas trading for the 13 weeks to 28th December 2008 with robust performance across all of BrightHouse’s categories. BrightHouse delivered revenue for the period up 18.7% to £41.7 million (2007: £35.2 million) and like-for-like revenue up 13.5% (2007: 10.3%).
Commenting on the expansion plans, BrightHouse CEO, Leo McKee said:
“We are delighted to be increasing our store network in North-East England, particularly Tyneside & Teesside, where we already have a strong footprint and an established customer base. We look forward to welcoming further local employees to the Group and we are particularly delighted that BrightHouse is in a position to create further jobs in this challenging environment.
“Our plans to increase BrightHouse’s store network in this region is part of the Group’s exciting expansion strategy to significantly increase its store portfolio across the UK over the next three years.
“The BrightHouse business model is resilient to consumer spending cycles and we have clear visibility of earnings going forward. We are therefore confident that the current macro-economic environment will not impact our expansion plans as we strengthen our foothold across the UK.”
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