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Published
Jul 10, 2017
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AS Watson stands behind UK retail market despite Brexit uncertainty

Published
Jul 10, 2017

Superdrug owner AS Watson plans to continue investing in the UK despite the British retail sector facing multiple headwinds and a period of uncertainty, as it announced plans to open more than 80 new shops for its UK franchises.


AS Watson owns Superdrug, the Perfume Shop and Savers - AS Watson


The company, ultimately owned by Hong Kong billionaire Li Ka-Shing, is the owner of Superdrug, the Perfume Shop and Savers.

It said on Monday it plans to open 30 new Superdrug stores and 45 new locations for Savers. The Perfume Shop will grow by 17 new stores.

The expansion will create more than 1,000 jobs across the UK.

"We are under a lot of pressure, with Brexit uncertainty and sterling going down, but we will continue to invest in the UK," said managing director Dominic Lai.

Superdrug delivered a trend-bucking performance last year, with sales increasing by 10.4% to £1.2bn and pre-tax profits rising 41% to £80.4m.

The chain of health and beauty stores said growth was boosted by celebrity beauty trends and the good performance of its online channel, which generated a 60% surge in sales over the 12-month period.

Superdrug has 789 shops in the UK and Ireland and currently boasts a market share of 30% in the cosmetics market.

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