Value retailer QD Stores delivered its “best ever Christmas”, as it eyes acquisition opportunities in a bid to expand during 2012.
Reporting a like-for-like sales rise of 5.7% for the five weeks to December 24, the retailer, which operates Buyright, Lathams and Cherry Lane Garden Centre brands, delivered an “overall improvement in profitability and margin” across the difficult Christmas trading period.
Despite IT implementation issues stalling progress during 2011, the group managing director Justin Farrington Smith says the company are “over the worst” and expects a positive 2012.
Farrington Smith confirmed QD’s hope to start building work on the new site in Derby and said other “opportunities” would be considered.
He said: “We are currently evaluating a number of acquisition opportunities and are always keen to hear from interested parties with suitable sites for our purposes.”
Farrington Smith added: “Our new store and garden centre in Braintree traded well and our first ever pop-up store trialled successfully enough to suggest the concept can be taken forward in the forthcoming year.”