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Muji to expand in Europe after 16% profit rise

Japanese clothing and homewares retailer Muji is to expand in Europe this year, after a 16% rise in profits.

According to The Independent on Sunday, Muji is looking to open stores in existing European countries, including the UK, France and Sweden. It is also considering new markets either direct or via franchise.

Muji, which has 12 UK stores, saw its European pre-tax profits rise by 16% to £3.86m in the year to January 28.

Sales were up 4% to £61.18m.

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