Discount retailer 99p Stores has revealed that its annual sales will push past the £100 million point for the first time, following buoyant Christmas sales.
Festive trading was strong for the retailer, up 8.3 per cent in the 13 weeks to December 29. For the year to January 31, it is on track to deliver sales of£115 million.
Chief executive Nadir Lalani said: “Despite tough trading conditions, we have outperformed the rest of the retail sector. Early indications suggest we will maintain similar growth in 2008.”
The 54-store retailer, which is likely to be sheltered from much of the credit crunch, is set to double its store numbers within three years. Growth will focus on the north of England.
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