The boss of 99p Stores said the business was one of the fastest growing retailers in the country.

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The boss of 99p Stores said the business was one of the fastest growing retailers in the country.

Hussein Lalani, said the Northampton-based business, which has a branch in Norwich’s Anglia Square shopping centre, had enjoyed record annual results including an 18pc surge in sales to £270m.

The value brand also reported annual profit growth figures of 14pc and unveiled plans to create 3,000 new jobs over the next two years as it opens more than 100 new stores.

And it said it believed that an increasing number of its customers are coming from more affluent ‘middle class’ households.

In the last 12 months 99p Stores has opened 51 new branches – creating around 1,500 new jobs - in the UK and Ireland to take its total number of stores to 194.

And it said the new openings will take the total to more than 300.

It has also increased its family of customers by 25pc in the last year to around 2m weekly shoppers and said it had the “strongest” like for like figures in the market of +3.7pc.

“Overall these are record results showing we are one of Britain’s fastest growing retailer,” Mr Lalani said. “Times have changed, spending patterns have shifted - and our record results demonstrate this.

“Our customers are telling us they are fed up of having been ‘ripped off’ for years and years paying up to three times the price for essentials.

The retailer, which sells a range of 5,000 items has doubled its customer base in the last 18 months.

“Those supermarkets that have been charging two and three pounds a throw for everyday essentials like washing-up liquid, toothpaste, tea and coffee have lost credibility,” Mr Lalani said.

“Very many tell us it has now become ‘cool’ to shop at 99p Stores. Telling work colleagues, family and friends what you pay when you are shopping has become fashionable.

“The boast used to be how much you paid. Now it’s how little.”

He said the last year has seen 99p Stores mature into a “one stop-shop”, rolling out fresh fruit and vegetables into its stores, to sit alongside milk, dairy, chilled and frozen meat and vegetables which have been introduced over the last 18 months.

And in a sign of how value shops were gaining a bigger share of the market, he said that some of the most popular stores are in affluent areas such as Lymington in the New Forest, Stroud in the Cotswolds, Petersfield in Hampshire and St Albans in Herts.

“These outperform many of our other branches and several of these branches are the busiest on their respective High Streets,” he added.

“At 99p Stores if you buy 20 items you know what it will cost you – less than twenty pounds. At other stores shoppers have become nervy – they haven’t a clue what the final bill will be.”

20 comments

  • Touch ? You would love to have the sense of touch , but as Norton's ventriloquist's dummy you have no sensations at all . Just a bit of wood rot around the legs.

    Report this comment

    LARSON.E. WHIPSNADE

    Saturday, July 21, 2012

  • I find it astonishing that just because something is priced at 99p. people automatically think it must represent good value. Value for money is not the same thing as price - but is far more important.

    Report this comment

    Tudor Bushe

    Tuesday, July 17, 2012

  • Bookworm: " to lampshade--"little things please little minds"---yes and bigger fools look on..." . In sympathy for themselves.

    Report this comment

    LARSON.E. WHIPSNADE

    Tuesday, July 17, 2012

  • Excellent...now that Danny Behar won't be popping up in the news much now, its very nice to see a suitable foxy replacement in Mr Lulani....yummy! :)

    Report this comment

    merrydancer

    Tuesday, July 17, 2012

  • weakest retort old lampshade has ever made. losing your touch?

    Report this comment

    bookworm

    Wednesday, July 18, 2012

  • Is it a quaint English custom to criticise things before trying? Or is it smugness to accept that something so cheap can actually be a quality item ? Perhaps the old saying " If you have nothing nice to say, say nothing" should apply.

    Report this comment

    norman hall

    Tuesday, July 17, 2012

  • ITman...'You are what you eat' holds dear to my thinking.

    Report this comment

    nrg

    Tuesday, July 17, 2012

  • old capital letters--you are not making sense.

    Report this comment

    bookworm

    Wednesday, July 18, 2012

  • Are there any 99p stores in Norwich so I can check the yummy-yucky grub???

    Report this comment

    nrg

    Monday, July 16, 2012

  • If you haven't tried it or seen the product range nrg then don't knock it!

    Report this comment

    IT Man

    Monday, July 16, 2012

  • Very enterprising but maybe not everything is as genuine as it seems. I was tempted into one by the prospect of a cheap gardening product and noticed from the labelling that several brand name items which one would expect to be made in the UK were either produced for non UK markets or were actually produced outside the UK. Ends of lines, unwanted orders etc the sort of thing one would have expected not to pay much for on the market in the past. But someone has got to fill the shops as our towns sink because of the lack of spending power of minimum wage migrant workers and those on benefits. And look tattier by the minute as shops are opened up which would not have looked out of place on Manchester's Curry mile in the 70s.

    Report this comment

    Daisy Roots

    Tuesday, July 17, 2012

  • I wish there were more interesting comments to read - all I ever seem to see are sarcasticrude comments - I feel sorry for these negative beings as obviously they have nothing good to say about anyone or any story!

    Report this comment

    wombat

    Tuesday, July 17, 2012

  • Read my lips norman....your earlier comment "Blah.blah,If you have nothing nice to say, say nothing" came straight from the scene of Mrs Rabbit talking down to a cheeky Thumper.

    Report this comment

    nrg

    Tuesday, July 17, 2012

  • to lampshade--"little things please little minds"---yes and bigger fools look on.

    Report this comment

    bookworm

    Tuesday, July 17, 2012

  • nrg . How does Bambi come into a general discussion about 99p stores? I suggest that you should get out more and stop watching too many childrens DVDs

    Report this comment

    norman hall

    Tuesday, July 17, 2012

  • Must be GM food from abroad for 99p...yuk!!!

    Report this comment

    nrg

    Monday, July 16, 2012

  • some products in these shops have different sized bottles and packs.so be careful.

    Report this comment

    bookworm

    Tuesday, July 17, 2012

  • D'oh norman!!! mrs rabbit reminding Thumper what mr rabbit said to the cheeky young buck....word for word was your first comment.....lack of grasping, normal for normans

    Report this comment

    nrg

    Tuesday, July 17, 2012

  • Norman!!! You've been watching Bambi then???

    Report this comment

    nrg

    Tuesday, July 17, 2012

  • Sounds like nrg should himself be a bogof or is that overvaluing him?!

    Report this comment

    IT Man

    Tuesday, July 17, 2012

The views expressed in the above comments do not necessarily reflect the views of this site

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