Harry Tuffins has snapped up two Somerfield stores in Gloucestershire from The Co-operative Group.
The shops, in Coleford and Lydney, takes the retailer's estate to nine and are its first stores in the county.
The "quality" stores would give Tuffins a combined 16,000 sq ft of new retail space, said MD Paul Delves. They are set to be converted into the Tuffins @ Nisa co-branded fascia in February. "Together with increasing existing sales, these stores will help our retail turnover touch at least £60m by January 2010," he added.
Tuffins has been looking to expand for some time and also opened a 3,000 sq ft convenience store and petrol station in Machynlleth, Powys, in March.
Accounts published at Companies House this week revealed overall sales at Harry Tuffins jumped 10.1% to £53.3m in the year to 31 January 2009, with sales in its supermarkets up 11.5%. However, pre-tax profits for the period fell 25% to £806,300.
"Although sales were strong, margins were static and costs increased, so profit could have been better," Delves admitted. "This year is looking better mainly because we have continued our steady expansion and are recording above-inflation like-for-like sales."
The accounts also revealed that the company's bottled water business, Montgomeryshire Natural Water Company, maintained its market share during the year.
The shops, in Coleford and Lydney, takes the retailer's estate to nine and are its first stores in the county.
The "quality" stores would give Tuffins a combined 16,000 sq ft of new retail space, said MD Paul Delves. They are set to be converted into the Tuffins @ Nisa co-branded fascia in February. "Together with increasing existing sales, these stores will help our retail turnover touch at least £60m by January 2010," he added.
Tuffins has been looking to expand for some time and also opened a 3,000 sq ft convenience store and petrol station in Machynlleth, Powys, in March.
Accounts published at Companies House this week revealed overall sales at Harry Tuffins jumped 10.1% to £53.3m in the year to 31 January 2009, with sales in its supermarkets up 11.5%. However, pre-tax profits for the period fell 25% to £806,300.
"Although sales were strong, margins were static and costs increased, so profit could have been better," Delves admitted. "This year is looking better mainly because we have continued our steady expansion and are recording above-inflation like-for-like sales."
The accounts also revealed that the company's bottled water business, Montgomeryshire Natural Water Company, maintained its market share during the year.
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