Home Bargains aims for 100 stores

Discount retailer TJ Morris aims to break the 100-strong barrier this year with value chain Home Bargains.

Retail operations director Joe Morris said another 15 Home Bargains stores will open this year, as the company pushes beyond its Northeast heartland.

The retailer is still run by the founding Morris family, which the Sunday Times Rich List estimates to have amassed a personal fortune of£48 million.

This year, TJ Morris upped the percentage of product sourced from China and increased the product range from 2,500 to 3,000 items.

In the year to June last year, sales increased from£117 million to£141 million.

Pre-tax profits slipped from£7 million to£6.7 million.