Home Bargains to Open 400 New Stores in the UK
Major discounter Home Bargains is making waves in the retail industry with its ambitious plan to open 400 new stores across the UK. The retailer, known for its budget-friendly offerings, currently operates 594 locations and aims to expand its footprint significantly.
In a recent financial report, Home Bargains revealed a substantial growth in sales, reaching approximately £3.7 billion, marking a 10% increase from the previous year. The company also reported a 12% rise in pre-tax profits, climbing from £288 million to £324 million.
The expansion strategy follows Home Bargains’ acquisition of fellow discounter Quality Save and the decision to rebrand all branches under the Home Bargains name. However, some existing branches, such as those in Stalybridge, Atherton, Chorley, and Darwen, will not undergo rebranding and are set to close.
Bakery Expansion
One of the exciting developments accompanying the store expansion is the introduction of 20 bakeries within Home Bargains stores nationwide over the next year. The chain has already successfully launched over 60 bakeries in various locations, including Oxford, London, and Wolverhampton. Customers can now enjoy a range of freshly baked goods, from baguettes to tiger rolls, pastries, and doughnuts.
Competition in the Retail Sector
Home Bargains is not alone in its growth aspirations, as several other retailers are also eyeing expansion opportunities. Competitors like B&M, Aldi, Screwfix, and Asda are all planning to open new branches, indicating a dynamic and competitive landscape in the retail sector.
Stay tuned for more updates as Home Bargains continues to make waves in the retail industry!
