Strong Growth For Peacock Group

Value clothing retailer Peacock Group has reported strong profit growth at the end of an 'outstanding' year for the UK retail group, with a major store opening programme driving sales.

In the year to the end of March, total sales grew by 23.7 per cent to GBP490.4m, with group like-for-like sales up 3.5 per cent. Pre-tax profits are up 59.8 per cent to GBP32.4m

The year saw 81 new stores opened across the group's formats, to give the group 397 Peacocks stores with a family clothing offer, as well as 314 Bonmarche stores, with a clothing offer pitched at women aged 45-plus. Peacock has also announced an expansion of the group's formats with the acquisition of The Fragance Shop chain, which specialises in branded perfumes.

New chairman Gavin Simonds said he was delighted his public duty "is to report outstanding results for the year, with both divisions delivering excellent profit growth." The Peacocks chain's total sales rose by 12.9 per cent across the year, with 5.8 per cent like-for-like growth. More than half its stores have now been revamped into a new format, with plans for at least 60 more refurbishments and 20 new stores in the UK.