North and Midlands retail chain Home Bargains has confirmed plans to expand into new geographical areas.
The business, which describes itself as one of the UK’s fastest-growing retailers, has its sights set on south Wales. Next month will see openings in Barry, Bridgend, Caerphilly and Newport, while Brynmawr will get a store in October. Over the next three years the total number of stores in Wales is set to rise to 25.
The company also wants to underline its presence in areas where it already operates. For example, it says it hopes to quadruple its stores in the West Midlands.
Home Bargains currently has 120 outlets selling a range of housewares and home furnishings along with toys, clothing and food. Based on Merseyside, it aims to have a chain of 500 stores within 10 years, employing over 10,000 staff.
Family-run Home Bargains is the trading name of TJ Morris, founded 30 years ago by Tom Morris, who remains managing director. It trades on the principle of top brands at bottom prices. In the year to June 30 2006 the company’s pre-tax profits were up 32% to £20.3m and sales up 23% to £273m.