The retailer, which runs the Wine Rack, Haddows and The Local fascias, as well as its eponymous chain, will also launch a transactional Thresher web site this summer.
Thresher, which will trim down store numbers to about 1,500 from 1,600, is gunning to increase store operating profit to between£40 million and£50 million before the end of 2011.
Yvonne Rankin, who became chief executive in September and initiated a 100-day strategic review, said: “I will grow store operating profit. We are rolling out new formats, adding stores in the right places and investing in service and infrastructure and more marketing to provide a greater service. There are myriad opportunities.”
The company will convert 190 of its Threshers off-licences to the Wine Rack format, giving the more upmarket fascia a total of 470 stores within four years.
The rebranding and refurbishment of the Wine Rack stores includes a blue fascia, a modernised logo, greater focus on events and gifts and more investment in chilled space.
Rankin wants to reposition Threshers, which has 581 stores, to appeal to “mid-market urbanites” by sharpening its pricing, improving store layouts and investing in staff training. Rankin said it would cut back its trademark three-for-two offers and reduce the price of single bottles of wine.
Rankin said the transactional Thresher web site will ultimately account for about 9 per cent of sales.
Separately, Thresher is reviewing whether to open more franchises, of which it has 130.
Thresher is owned by private equity firm Vision Capital, which acquired it for£250 million in June last year.
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