Reject Shop predicts growth


calculatorDiscount retailer, The Reject Shop, expects its profit to grow in the next two years, as it continues its aggressive rollout of new stores.

The company opened 41 new stores in the 2012/13 financial year, and has already opened another 33 since the beginning of July.

Another six stores are scheduled to open before Christmas, and at least 12 more are being planned for the first half of 2014.

Trading in the new stores has so far exceeded expectations, MD Chris Bryce told the company’s annual general meeting.

Across the entire business, like-for-like sales in the first few months of the 2013/14 financial year are higher than in the same period in the previous year.

He said The Reject Shop will deliver solid profit growth in the current year, and will be well placed for further growth in 2014/15.

The company made a profit of $19.5 million in 2012/13.


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