15 October 2012 10:56
Discount retailer The Original Factory Shop has seen sales of hardware, electrical and homewares grow by over 25% in the last six months, helping them boost overall like-for-like sales by 5.8% and pre-tax profits by 30%.
Of particular note were its sales of Tefal goods and Vax steam window cleaners, which shifted 5,000 units, compounding the existing successes in fashion lines, where it sells stock from Next and M&S.
The retailer has added 10 new stores to its trading space this year, including a Christmas "pop-up" in Hull, bringing it to a total of 183 stores and making it one of the fastest growing retailers in the UK.
Like other companies enjoying the current discount boom, The Original Factory Shop is seen to be benefiting from the collapse of other large-store chains such as Woolworths over recent years, having a filled a gap in many "secondary high streets" throughout the country.
Chief executive at the company Angela Spindler said "People are not looking for cheap things, they are looking for quality products at good prices. Our model thrives in towns that are under-served. We usually open in a boarded up store, petrol station, or nightclub."
Ms Spindler is intending to expand the company to 450 stores within the next six years using her wealth of experience as former managing director of Debenhams and Asda's clothing brand George.