Wilkinson to expand
HOUSEHOLD goods discounter Wilkinson hopes to cash in on the collapse of former rival Woolworths after ringing up record sales last year, although investment cut profits.
Privately owned Wilkinson is speaking with Woolies’ administrators about acquiring up to 10 of its former stores.
The Nottinghamshire-based firm, which has 321 shops and was already planning 15 more this year, hopes to use the Woolworths outlets to expand nationwide.
Wilkinson, whose sales rose 6.2 per cent to £1.4billion in the year to January, aims to attract former customers of the failed music, toys and pick' n’ mix retailer.
“We are in excellent condition to grow sales, profit and customers,” said chief executive Stuart Mitchell.
Wilkinson, which employs 24,000 people, sells goods such as DIY equipment, stationery, pet products and kitchenware.
Customer numbers rose 4.5 per cent to 224 million people, bucking a declining high street trend.
Profits fell 35 per cent to £31.6million as it invested in a facelift for its 321 stores, new equipment and a Far East buying operation.