Flooring retailer reports rocketing sales as it forges ahead with breakneck expansion
Floors 2 Go announced its maiden year-end results with a vow to continue rapid expansion. The flooring retailer said it would open at least 25 stores this year. A newly acquired distribution warehouse is expected to open next month, boosting distribution space by 124 per cent.

The retailer improved turnover by 78 per cent to£78.7 million, although this figure is based on 12 months' pro-forma trading. In the actual nine months' trading to December 31, turnover reached£61.9 million. Profit on ordinary activities during the period was£5.2 million. In the last two months of trading, the retailer said like-for-like sales improved by 1 per cent.

Floors 2 Go chief executive Simon Farnsworth was confident the retailer could weather the present consumer uncertainty. He said: 'While the company is bound to feel the effects of the softening in the general retail sector reported widely in the media, Floors 2 Go is well positioned to trade through the retail cycle so enhancing our ability to improve market share still further.'

The retailer acknowledged it had been approached by a private equity organisation and was in discussions that could lead to a bid offer. However, it was not prepared to give details of the third party or status of the discussions.