The Works to create 600 jobs as part of major expansion
The Sutton Coldfield-headquartered retailer currently has 398 stores across the UK but has plans to grow its estate to 650 stores by 2022.
The company has enjoyed strong on and offline growth over the past year, opening new stores both on the high street and in out-of-town locations at a rate of one a week.
Building on this rapid growth the discount retailer will now be investing a total of £5.3m to open its new stores and will be spending an additional £1m on rebranding and refurbishing its existing store estate.
Kevin Keaney, CEO of The Works, said: “These are exciting times for The Works. Our discount proposition, coupled with our huge range of exciting products, is proving a real hit with consumers and helping us to continue rapid growth even when overall spending confidence is low.
“In contrast with many other retailers, we’re seeing surging sales on the high street, with plans to grow our estate by a further 60 stores over the next 12 months. We’re also experiencing fantastic growth online, with online sales growing by 35% over the last year.
“We’re bucking the trend and committed to sustaining this growth through further investment over the next 12 months and beyond, as we deliver our plan to become one of retails best growth stories.”
Alongside Kevin Keaney, The Works is led by Dean Hoyle, founder of Card Factory and one of the UK’s best-known retail entrepreneurs, who joined in 2015 as chairman and investor.
Fellow board members include CFO Vicky Norris, Tony Barraclough, former property director at Card Factory, and James Woolley, portfolio partner of private equity house and The Works investor, Endless LLP.
Published: 24 August 2017