Alexon is aiming to expand its store portfolio from 63 to 100 over the next three to five years.
The womenswear group, which owns brands including Alexon and Ann Harvey, has been realigning its portfolio this year and chief executive Jane McNally said that although the business had returned some stores to landlords, sold two leases and was renegotiating leases on 40 shops, it was still looking to open more stores.
“We are still searching for good opportunities to open shops in the right locations,” said McNally. “We aim to have 100 stores in the next three to five years.”
The business launched a refitted Kaliko store in Henley last weekend, following the opening of refitted Dash and Eastex stores in Marlborough and Bath earlier this month. McNally said: “The reaction has been good. Where we have refitted the stores, the uplift in sales has been greater than the average.”
McNally said Alexon wants to grow its online business to contribute about 12% of total turnover in the next few years.
The retailer recorded a pre-tax profit of £950,000 for the 26 weeks to July 31, up from £907,000 for the same period last year. Like-for-likes fell 5.5% but increased 3.1% in the first seven weeks of the second half.