Second-hand retailer and pawnbroker Cash Generator is to double its portfolio of shops in Scotland as it seeks to up its nationwide presence.
Cash Generator aims to open 14 shops in Scotland over the next two years, to add to its 15-strong portfolio. At present, 13 per cent of the retailer’s 90 shops are in Scotland.
Cash Generator managing director Julian Urry said: “Scotland is a major part of our future expansion plans. We have identified a number of sites for new stores including Aberdeen, Arbroath, Paisley, Perth, Falkirk, Stirling, Lochee, Cumbernauld and Ayrshire.”
The retailer also has two shops in Glasgow, and Urry said that given the city’s “vast population, which meets our target demographic”, there is potential for another
shop there.
Cash Generator has enjoyed a sales uplift as shoppers seek to save money in the recession. For the three months to April 30, the retailer said it reported strong like-for-like growth across all its key income streams. Gross profits were up 3.3 per cent, and sales at the division that deals with buying pre-owned items from the public soared 19.1 per cent.
Cash Generator said at the beginning of the year it wanted 100 shops by the end of 2009, but its plans have been ramped up as it seeks to drive profit in the downturn.
No comments yet