The credit crunch has helped 99p Stores record half-year like-for-like sales growth of 7.5%.
Shoppers had turned to the value retailer in the past six months as the economic downturn worsened, said 99p Stores commercial director Hussein Lalani, and the chain would continue to open stores to meet demand.
Speaking at the opening of the company's flagship southern store in Croydon this week, Lalani said: "People are much more open to the discounters and a lot of customers who would previously have turned their noses up at us are paying a visit."
A further three stores were planned to open by the end of the year, taking the total to 64, Lalani said. 99p Stores was also aiming for 15 new stores in 2009.
Finding sites was getting easier because of the new empty rate tax on commercial property, Lalani added. "People would say they didn't want us because we were a discount store, but now they are being charged for empty stores, they are more willing to get people in," he said.
The business was also planning to extend its grocery offer, which currently makes up 35% of its 3,500 lines. As well as grocery brands, it was extending its own-label Deli Fresh range that includes pickles, gerkins, tuna, olive oil and sweetcorn, and own-label confectionery ranges Candy Club and Sweet Shop.
It already sold potatoes, onions and eggs and in the next few weeks would launch a stew pack of vegetables, Lalani said.
Some products were also being sold below 99p, including branded cakes for 69p, two-litre bottles of soft drinks for 89p and Silver Spoon sugar for 74p, which Lalani claimed was cheaper than Tesco. The chain was also enticing people into new stores by offering DVD players, camcorders, karaoke machines or coffee makers for 99p if customers bought 20 items.
Last month rival discount retailer Poundland reported a 43% increase in pre-tax profit to £15.7m for the year to 31 March and said like-for-like sales growth had been strong.
Shoppers had turned to the value retailer in the past six months as the economic downturn worsened, said 99p Stores commercial director Hussein Lalani, and the chain would continue to open stores to meet demand.
Speaking at the opening of the company's flagship southern store in Croydon this week, Lalani said: "People are much more open to the discounters and a lot of customers who would previously have turned their noses up at us are paying a visit."
A further three stores were planned to open by the end of the year, taking the total to 64, Lalani said. 99p Stores was also aiming for 15 new stores in 2009.
Finding sites was getting easier because of the new empty rate tax on commercial property, Lalani added. "People would say they didn't want us because we were a discount store, but now they are being charged for empty stores, they are more willing to get people in," he said.
The business was also planning to extend its grocery offer, which currently makes up 35% of its 3,500 lines. As well as grocery brands, it was extending its own-label Deli Fresh range that includes pickles, gerkins, tuna, olive oil and sweetcorn, and own-label confectionery ranges Candy Club and Sweet Shop.
It already sold potatoes, onions and eggs and in the next few weeks would launch a stew pack of vegetables, Lalani said.
Some products were also being sold below 99p, including branded cakes for 69p, two-litre bottles of soft drinks for 89p and Silver Spoon sugar for 74p, which Lalani claimed was cheaper than Tesco. The chain was also enticing people into new stores by offering DVD players, camcorders, karaoke machines or coffee makers for 99p if customers bought 20 items.
Last month rival discount retailer Poundland reported a 43% increase in pre-tax profit to £15.7m for the year to 31 March and said like-for-like sales growth had been strong.
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