Plus-size womenswear retailer Yours Clothing is continuing its rapid expansion plan with new stores set to open in Rhyl, Yeovil, Bangor, Swindon, Reading and Tamworth in the coming weeks.
The retailer, which also has a plus-size menswear fascia called Bad Rhino, currently has 110 standalone stores and expects to have around 124 by the end of the year.
The company has pinpointed around 150-160 stores as a medium-term target, joint managing director Resh Dorka told Drapers. In July last year, the retailer had 92 stores.
“We are performing really well at the moment,” said Dorka. “Last year was tough with the poor summer and mild winter and we had a few internal issues with installing a new warehouse system that meant we took our eye off the ball a bit.
“This year so far we have seen margins improve dramatically and our stock holding is a lot better.”
Dorka said the firm is benefitting from increased awareness and economies of scale from the store expansion plan, which is offsetting any headwinds from the value of sterling.
“We’ve improved our sourcing by moving factories and we’re buying bigger volumes and have better stock management, which is helping our performance,” he added.
The firm plans to add reserve in-store functionality in all stores in the coming months and has trained staff to offer bra-fitting services.
“It’s about staying ahead of the game and maintaining that pace,” Dorka said.
In its latest available accounts, Yours Clothing sales increased 35% to £65.7m for the year to 31 January 2016, while pre-tax profits fell 14% year-on-year to £1.9m as the firm invested in its systems and processes. Profit for the period inched up from £1.5m to £1.6m.