Home Bargains turnover reaches £2.5bn

In its latest accounts, discount retailer Home Bargains has reported sales of £2,471 million for the year ended 30th June 2019.

TJ Morris Ltd – which trades as Home Bargains – increased turnover by 15% (£328 million) citing new store openings, shop re-sites and an additional contribution from existing stores for the rise.

Operating profit increased by 15% (£30m) from £201 million to £231 million.

The retailer opened 26 new stores during the year, reaching 506 in total, and confirmed its intention to operate between 800 and 1,000 branches.

Home Bargains has taken advantage of the challenging retail market which has seen the closure of many DIY and department stores; moving on units that have been left unoccupied following company insolvencies and right-sizing operations.

Recent openings and store announcements include:

August 2019 – Home Bargains opens in former Wickes and Homebase stores

August 2019 – Discounters pre-let units at proposed new Alton retail development

August 2019 – Home Bargains opens in former Macclesfield Homebase store

July 2019 – Home Bargains moves on occupied Homebase store 

July 2019 – Discounter moves on former Norwich Homebase

June 2019 – Scunthorpe: From Homebase to Home Bargains

May 2019 – Home Bargains to open in former Grantham Homebase store

May 2019 – Home Bargains to move into former MFI unit  

Source : Insight DIY Team