Bargain Booze has a thirst for South-east expansion
BARGAIN BOOZE, the Crewe-based off-licence chain, is looking to expand into South-east England after solid Christmas sales.
The company, which has 630 franchised stores and is owned by private equity, recorded a 9.5 per cent increase in like- for-like sales during the festive period.
Keith Webb, Bargain Booze deputy chief executive, said: “We are always looking to expand. There are large swathes of the country where we don’t have a strong presence, like the South-east, so we will look to expand there this year.”
Last year the firm, which employs 6,000, opened 30 new stores and saw retail sales rise from £529 million to £557 million. Earnings came in at £13.1 million. Bargain Booze has also poached Diana Hunter, Waitrose’s director of convenience, who will join the company as chief executive this week.
The retailer is 70 per cent-owned by private equity firm ECI, which bought it for £64 million in 2006.
There are large swathes of the country where we don’t have a strong presence
Meanwhile, high-street favourite Clinton Cards is looking to open up to 30 stores this year, potentially creating 300 jobs. The move comes after the greetings cards company recorded strong like-for-like sales growth over Christmas, driven by a 10 per cent increase in basket spend per customer.
New owner American Greetings has rebranded 80 of Clinton Cards’ 390 stores since acquiring it out of administration last year.