The Range: profits and turnover up by nearly a third

The already rapid growth at the Range has accelerated following another packed year in which 11 new stores were opened.

Turnover and profits were up by a third at the home, leisure and garden discount retailer, which is headquartered in Plymouth.

According to the latest set of accounts for CDS (Superstores International), which trades as The Range, turnover climbed by 29 per cent to £381.9m in the 52 weeks ending 27 January 2013. The equivalent rate of growth a year earlier was 19 per cent.

Operating profits jumped by 34 per cent to £34.8m over the same period, compared with the previous year's rate of 27 per cent.

In their report accompanying the accounts, the directors said: "Operating profit increased by 34 per cent as a result of the increase in turnover achieved by increasing the turnover in existing stores and increasing the number of trading stores but maintaining the level of fixed costs.

"The group is optimistic about the future given the continued growth and associated economies as well as the strength of the concept."

Chief executive officer Chris Dawson added: "We have never opened so many stores in such a short space of time and have seven opening in November. It till take a lot of hard work, however we are confident that it can be achieved.

"This is only the beginning of what we can achieve with 45 stores planned in the next three years, creating more than 7,000 new jobs in the UK."

During the year, The Range opened 11 new stores and grew its headcount by 23 per cent to 5,110. Its network of stores across the UK contributed almost all of the increase, although its Plymouth management and head office division also added 45 new posts.

The Range's predecessor CDS Superstores was founded by Plymouth-based entrepreneur Chris Dawson in 1980.

In August, the business vowed to create 6,750 jobs across the UK in less than three years, with the opening of 45 new stores.

Source : Richard Frost - Insider Media
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