Peacocks plans an expansion in store numbers

The company, which has reported a big rise in profits for the first half of the financial year, plans to open 100 new stores in the coming year.

In a statement, on Wednesday, the company said that operating profit was up by nearly a quarter in the six months up to October.

He company said 150 of the new jobs would be based in Wales.

The group announced a 24.3% rise in pre-tax profits to �14.3 million in the first half of the financial year.

The Cardiff-based firm said women's wear and footwear had performed particularly strongly.

We've changed the business not to make the product cheap, but to make it fashionable Peacocks chief executive Richard Kirk

It also said that the extension at its distribution centre, in Nantgarw, south Wales, which has almost doubled capacity, had gone smoothly.

In June, Peacocks, which already run the Bonmarch� clothing chain, bought discount perfume sellers the Fragrance Shop.

The planned 100 new stores will include branches of Peacocks, Bonmarche and the Fragrance Shop.

'Fashion brand'

The group has already opened 47 new stores and refurbished another 62 across its three brands over the last six months.

Peacocks chief executive, Richard Kirk, told BBC Radio Wales: "I think (the firm's success) is due to the work we've been doing over the past three or four years, changing Peacocks.

"It was an old-fashioned business and we've turned it into a fashion brand - we've changed the product and the look of the stores.

"We've changed the business not to make the product cheap, but to make it fashionable."

Mr Kirk added that the company remained committed to its Welsh roots.

He said: "I believe we are the second-biggest employer in Wales right now.

"We are committed to Cardiff and we're a Welsh company."

Peacocks' half-yearly results showed total sales up 13.2% to �261.2m.

'Opportunities for growth'

Peacock Group chairman, Gavin Simonds, said they planned to create 1,300 new jobs and to refurbish 110 established stores.

He said: "There are real opportunities for growth in all our businesses.

"We currently estimate ultimate scope for at least 700 Peacocks, 550 Bonmarch� and 150 Fragrance Shop branches in the UK, with further potential afforded by franchises and concessions both in the UK and internationally."

The company's core Peacocks stores specialise in discount clothing, while the Fragrance Store sells fragrances at discount prices.

The Bonmarch� chain - bought in July 2002 - sells clothes aimed at women aged 45 and over.