Value retailer Original Factory Shop has recorded a 27.1% rise in pre-tax profits to £9.7m in the year to March 29 as it lays out plans for 400 stores within five years.

 In the 13 weeks to August 30, like-for-like sales grew 9% while in the 25 weeks to September 20, total sales rocketed 35%.

The 120-store retailer will open 30 stores in the present financial year, with a view to opening 400 in the next five years, which chief executive Angela Spindler called a “conservative figure”.

Spindler, former managing director at Debenhams, said: “No other UK retailer fits this model. We are local, competition is limited and we are almost always the major non-food retailer in the immediate locality.

“We have such a unique proposition and are so relevant in this climate. I’m convinced the brand has longevity. The recession has helped the momentum of store openings, and the demise of Woolworths has created opportunities.”

Spindler said the retailer’s success is down to its store locations in small towns with populations of 20,000 as well as its “great value” discounted brands and its “incredible breadth of range”.

Spindler said shopper numbers have increased and that more affluent consumers are shopping at the retailer. “New people are trying us, everybody is looking to make savings,” said Spindler.

The retailer, which achieves 60% of its revenue through fashion sales, is also launching a new own-brand fashion line aimed at its core customer – the 40-plus female.

Spindler said the range – as yet untitled – will be informal yet “stylish and coordinated”. While she could not confirm the price points she said the range would represent value for money. The range will have a soft launch this autumn/ winter, with a stronger launch early next year.

“We’re working on our ladieswear offer – 84% of our customers are women, so there’s clearly an opportunity,” said Spindler.

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