• FY pre-tax profit up 28% to GBP91.2m 
  • Sales up 1.9% to GBP562.6m
  • Plans to open a further 100 stores 
The group plans to open a further 100 stores

The group plans to open a further 100 stores

Continuing its expansion, UK clothing retailer Edinburgh Woollen Mill Group has revealed plans to open a further 100 stores after booking a double-digit increase in annual profit. 

The owner of the Jane Norman, Peacocks and Ponden Mill brands said it is "actively looking" for new sites in the UK and overseas as part of plans to open 100 new stores over the next two years. 

Pre-tax profit reached GBP91.2m (US$137.2m) for the year to 28 February, compared to GBP71.3m in the same period of the prior year. 

Sales increased 1.9% to GBP562.6m from GBP551.9m last year. 

Its namesake brand saw sales fall 1.4% to GBP166.2m, while online sales grew 15%. Peacocks posted an 8% increase in sales to GBP351.7m, and online sales jumped 62%. At Jane Norman, online sales rose by 23%.

Group commercial director Steve Simpson said control of sourcing and input prices helped to deliver strong overall margin growth. 

The group opened a further 53 stores during the year, including five new overseas stores, creating 800 new jobs. It will also further update its existing estate as it targets the organic growth of both its Edinburgh Woollen Mill and Peacocks brands.