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| Type | Private limited company |
|---|---|
| Founded | Old Swan, Liverpool, England (1976) |
| Founder(s) | Tom Morris |
| Headquarters | Liverpool, England |
| Number of locations | 190 |
| Key people | Tom Morris (Managing Director), Graeme McLoughlin (Finance Director) |
| Industry | Retail |
| Products | Grocery, General merchandise |
| Revenue | ▲£383 million (2008)[1] |
| Operating income | ▲£34.7 million (2008)[1] |
| Owner(s) | TJ Morris |
| Employees | 4500 |
| Website | www.tjmorris.co.uk |
Home Bargains is a chain of discount stores operating in Northern England and the Midlands, founded by Tom Morris in Liverpool, England approximately 30 years ago. It is part of the TJ Morris chain, who also have stores under the name Halfpriceorless.
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History
The chain was founded by Tom Morris approximately 30 years ago when he opened his first store in Old Swan, Liverpool, (which shut in September 2008 after over 30 years of business). Morris comes from a retailing family that had run shops for over two generations. The original Liverpool stores were called 'Home & Bargain' but the name was changed in the late 1990s, although customers still locally refer to it by its old name. Their head office is in Liverpool.
Stores
Home Bargains stores have red and sky blue branding. They can usually be found in major shopping streets as well as in shopping centres and arcades. Although most are centrally located several are in out-of-town retail parks.
Stores range from small to medium outlets, with the retail park outlets being slightly larger. Most stores have a one way system, with shoppers going in one door an exiting via another.
home bargains do not stock frozen or chilled foods and have a brief range of foods.
Growth
The retailer has been given approval to construct new headquarters in Merseyside, which it estimates will create 700 jobs at the Axis business park, Croxteth, as it builds a 10-storey distribution centre and retail training facility. The approval means the chain can expand by a further 360 stores across the country to reach a turnover of up to £1 billion.[2] The chain aims to have 500 stores within 10 years with employee numbers exceeding 10,000.[3] The retailer wants to expand to other parts of the UK in the future, but Morris added: "We want to grow slowly, at a rate which is controllable. We don't want to over-expand."[1]
In August 2007, two stores in South Wales were opened in Barry and Caerphilly, these had been acquired from Netto which abandoned its plans to expand into the region. [4] Home Bargains further grew their presence in South Wales by taking over stores from Buyology, all of these were originally Hypervalue stores.
In Summer 2008, the retailer acquired a number of former Kwik Save stores which had lain empty since that retailer had gone into administration in 2006, further expanding the Home Bargains chain. These stores included Skelmersdale, Bangor, Rhyl, and Hoylake.
The retailer announced in October 2008 that preparations are underway to expand into Scotland for the first time, opening their first store in Rutherglen in December 2008. There are plans to invest more than £10m in its first group of stores, and by March 2009 the company aims to have six stores within the Glasgow area, employing more than 200 people.[5]
In 2009, the retailer acquired 14 former Woolworths stores from the failed Woolworths Group chain. These stores include Cardiff and Port Talbot in South Wales. In Fife, Scotland, two former Woolworths stores have been opened in shopping centres in Glenrothes and Kirkcaldy. By 2015, the firm aims to be turning over £1bn a year, and have grown the number of its stores to 350, with the potential for 600 across the UK. [6]
Quality Save
The owner of Home Bargains, TJ Morris, is the supplier of similar discount chain Quality Save. TJ Morris supplies Quality Save with everything from confectionery and drinks to trolleys and tills. Because of this Quality Save and Home Bargains are often thought to be the same company.
Financial performance
The chain have seen strong sales growth over the past few years, with a 19% jump in total sales from £322m to £383m in the year up to June 2008.[1]
| Week ending | Turnover (£m) | Trading profit (£m) | Retained profit (£m) |
|---|---|---|---|
| 30 June 2008 | 383 | 34.7 | |
| 30 June 2007 | 322 | 30.2 | |
| 30 June 2006 | 273[7] | 20.3[7] |
References
- ^ a b c d "Home Bargains cashes in on downturn as profits surge". Retail Week. 18 September, 2008. http://www.retail-week.com/News/2008/09/home_bargains_cashes_in_on_downturn_as_profits_surge.html. Retrieved 2008-10-25.
- ^ Home Bargains expansion will create 700 new jobs Liverpool Daily Post, 16 January 2008
- ^ Home Bargains moves into new areas housewars live.net, 9 July 2007
- ^ [http://www.ukbusinesspark.co.uk/nettoaaa.htm Netto
- ^ "Home Bargains moves into Scotland as business continues to boom". Liverpool Daily Post. 22 October, 2008. http://www.ldpbusiness.co.uk/liverpool-news/liverpool-business-news/2008/10/22/home-bargains-moves-into-scotland-as-business-continues-to-boom-96026-22088647/. Retrieved 2008-11-29.
- ^ "Home Bargains to take over 14 former Woolworths stores". http://www.ldpbusiness.co.uk/liverpool-news/liverpool-business-news/2009/01/29/home-bargains-to-take-over-14-former-woolworths-stores-96026-22811716/.
- ^ a b "Home Bargains moves into new areas". Housewares Live. 9 July, 2007. http://www.housewareslive.net/news/news.asp?id=4585. Retrieved 2008-10-25.
External links
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