News
Bathstore records rise in full-year profit
Bathstore has reported a rise in gross profit – its preferred measure – and sales in its last financial year.
Bathstore has kicked off its overseas expansion with a deal to open a franchise store in the Middle East in spring 2015.
The store will open in the Barwa Commercial Avenue retail development in Doha after Bathstore signed an agreement with Qatari businessman Yousif Al Khater.
Bathstore aims to open a number of franchises in the Gulf Cooperation Council (GCC) region, which encompasses all Arab states in the Persian Gulf excluding Iraq.
The Doha franchise will offer Bathstore’s lifetime guarantee and will hold stock centrally within Qatar.
Bathstore chief executive Gary Favell said: “This agreement marks the next step in Bathstore’s ambitious plans for growth.
We wanted to ensure that customers will still receive the same high quality service we deliver here in the UK, with Mr Al Khater I am confident we can achieve this.”
The bathroom specialist has 172 stores in the UK and the deal comes six months after Bathstore was sold in a management buyout backed by US billionaire Warren Stephens.
A consortium led by Favell bought the retailer from turnaround specialist Endless.
No comments yet