Move into China also confirmed
Body Shop International announced a move into Russia this morning as it delivered figures showing a third consecutive year of growth. Total retail sales were up 5 per cent to£708.7 million for the 52 weeks to 26 February, while comparable store sales were up 2 per cent. The retailer's home shopping arm, Body Shop at Home, grew sales by 31 per cent to£46.9 million.

Body Shop executive chairman Adrian Bellamy and chief executive officer Peter Saunders said that the time was right for the retailer to commence a period of expansion. They cited the£100 million store refurbishment programme that began last year as the first stage of the retailer's renaissance. This will be backed up by an ambitious expansion into overseas markets.

Already present in the Americas, Asia Pacific and Europe, the retailer said it will open a store in Russia by September and confirmed Retail Week's story that it was also considering a move into China.

Body Shop at Home and the retailer's e-commerce operation will be extended into new markets, although Bellamy and Saunders declined to say where these would be.

The retailer expects a 15 per cent to 20 per cent growth in operating profit in the current financial year.

Topics