Ethel Austin success will finance growth

Improved productivity and overheads control drove a 6.3 per cent increase in like-for-like sales at value retailer Ethel Austin for the first 20 weeks of the financial year.

Turnover from the seven new stores opened so far this year has helped increase overall sales by 11.1 per cent in the year to January 18.

The figures put the 250-store retailer in a good position to open another 10 shops during the rest of the financial year, said chief executive Phil Hoskinson. Plans to open another 20 stores a year in future can also now be pursued.

Range improvements and discount deals have also been highlighted as contributing to a 50 per cent operating profit increase for the period.