Austin has plenty more in store
Clothing chain Austin Reed said yesterday it would open another 30 stores this year as the firm continued its expansion after being taken private.
The group, which also operates the womenswear clothing chain Country Casuals, will look to grow its UK sites from 329 to nearly 360. It currently has 96 Austin Reed stores and concessions, as well as 233 Country Casuals outlets in the UK and Ireland.
Austin Reed delisted from the London stock market in January last year after it was bought for £49m by Guy Naggar and Peter Klimt, the owners of corporate finance group Dawnay Day.
In its first full year as a private company to January 31 this year, the company saw like-for-like sales rise by 0.8 per cent, with total UK and Ireland revenues 1.8 per cent ahead at £110m. Underlying profitability also improved during the year, from £6.7m to £8.8m.
The group has already opened a new store in London's Fenchurch Street and another concession in Belfast. Other stores in Newcastle, Edinburgh and Liverpool are due to open this summer.
The full article contains 189 words and appears in n/a newspaper.
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Last Updated:
09 May 2008 9:15 AM
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Source:
n/a
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Location:
Yorkshire
