Edinburgh Woollen Mill, owner of high street retailers such as Jane Norman and Peacocks as well as its eponymous knitwear label, is set to open an additional 100 new stores over the next two years.

The new store openings come after the privately owned fashion group reported an increase in profits by over a quarter to 71.3 million pounds for the 52 weeks to 1, March. The Group aims to open at least 100 new stores, both in the UK and overseas, up from the 34 stores the Edinburgh Woollen Mill opened during its previous financial year.

Fashion retailer Peacocks will open several more stores in addition to the current 451 UK stores and 14 overseas stores the group currently operates. The Group revealed it had invested at least 80 million pounds in the retailer since acquiring it out of administration in 2012.

However, the Group did not comment on current trading at Jane Norman, which enter administration this summer, three years after Edinburgh Woollen Mill had stepped in and saved the fashion chain from administration.

The Group previously shut down the retailer's 24 high street stores, but Jane Norman continues to trade online and through a number of department stores concession stands.


Related news