Spindler bows out on a high at Original Factory Shop
BURNLEY-based retailer The Original Factory Shop saw sales and profits grow in the year to March.
The group, which has just appointed former Asda executive Tony Page as its new chief executive, said sales climbed 10.4% while pre-tax profits jumped 34%.
Figures relating to the percentage increases were not released by the firm, and the trading business, The Factory Shop Ltd, has not yet filed annual accounts.
In a statement it said like-for-like sales were up 3.7% in the year to March, and margins had improved due to improved buying and range planning, and more direct imports.
During the year the best performing areas were electrical, pets, men’s sports and Christmas goods, all up more than 20% year-on-year. The company launched a new website and opened 11 new shops, and a further three since the year-end. In the current financial year it is planning to open a further 12, taking the total to nearly 200.
Angela Spindler, outgoing chief executive, said: “This has been a great year for The Original Factory Shop, during which we delivered double digit sales growth. Whilst I’m pleased with the results, our customers continue to see pressures in their day to day lives.
“Our trading across Britain’s small town high streets has been strong as savvy consumers search for quality brands at low prices. Our customers enjoy the convenience of shopping locally and the service they receive from us.
“The new website has been an essential addition and continues to support our online growth. However, we will always be committed to Britain’s small town high streets, and see further scope for a potential network of 450 stores across the UK over the medium term.”
The Original Factory Shop was established in 1969 as part of Peter Black’s selling surplus Marks & Spencer stock. In December 2007 Duke Street backed the £69m secondary management buy-out of the company. It employs 2,800 staff.
