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Discount retailer The Reject Shop plans 40 new stores in Australia

RBR Staff Writer Published 21 August 2013

Australia-based discount retailer The Reject Shop plans to open 40 new stores in 2014, in a move to expand the brand footprint across the country.

As of now the discount retailer opened 41 new stores in fiscal 2013. The Reject Shop, which has operations in New South Wales, Victoria, South Australia, Queensland, Western Australia and Tasmania, believes that the new store expansion program will strengthen the brand's retail network.

For the fiscal 2013, the company posted 13.3% rise in net sales to $618m, as against $545.3m in the same period last year. Comparable store sales for the 52- week period grew by 1.8%.

The Reject Shop managing director Chris Bryce said despite poor consumer sentiment and retail sales trends, the company witnessed surge in figures.

"This is an exciting period for The Reject Shop, as the accelerated store rollout program continues the platform development to underpin the company's long term growth," Bryce added.

"We are in advanced negotiations on a number of additional sites and there is a strong likelihood we will be able to secure additional stores to open in FY2014 beyond those confirmed."

"We have opened 14 new stores since the start of July (equating to 2 new stores per week) and aim to have more than 30 new stores opened by December 2013."

The Reject Shop offers a broad range of general consumer products such as toiletries, cosmetics, homewares, personal care products, hardware, basic furniture, household cleaning products, kitchenware, confectionery and snack food; and lifestyle and seasonal merchandise such as seasonal gifts, cards and wrapping, toys, leisure items and home decorations.