Home Bargains
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| Type | Private limited company |
|---|---|
| Industry | Retail |
| Founded | Old Swan, Liverpool, England (1976) |
| Founder(s) | Tom Morris |
| Headquarters | Liverpool, England |
| Number of locations | 250+ |
| Key people | Tom Morris (Managing Director), Graeme McLoughlin (Finance Director) |
| Products | Grocery, General merchandise |
| Revenue |  £590 million (2008)[1] |
| Operating income | £46.6 million (2008)[1] |
| Owner(s) | TJ Morris |
| Employees | 4700 |
| Website | www.tjmorris.co.uk |
Home Bargains is a chain of discount stores, offering home bargains, operating throughout the United Kingdom, 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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[edit] 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 were changed to Home Bargains in the late 1990s (although it's common for Merseyside area customers to still refer to it by its original name). Their head office is in Liverpool.
[edit] 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 and exiting via another.
[edit] 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."[4]
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.[5] 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 Ebbw Vale.
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.[6]
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.[7]
In February 2010, the companies £25 million Northern Ireland expansion plan was announced .[8]
[edit] 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.
[edit] Financial performance
The chain have seen strong sales growth over the past few years, with turnover more than doubling in the period 2006 - 2010.[9][1]
| Week ending | Turnover (£m) | Trading profit (£m) | Retained profit (£m) |
|---|---|---|---|
| 30 June 2010[1] | 590 | 46.6 | |
| 30 June 2009[10] | 484 | 43.5 | |
| 30 June 2008[4] | 383 | 34.7 | |
| 30 June 2007 | 322 | 30.2 | |
| 30 June 2006[9] | 273 | 20.3 |
[edit] References
- ^ a b c d "Home Bargains turnover up 23%". Place North West. 1 October, 2010. http://www.placenorthwest.co.uk/news/archive/7303-home-bargains-turnover-up-23.html. Retrieved 31 December, 2010.
- ^ 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
- ^ a b "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.
- ^ 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/.
- ^ Home Bargains unveils £25m Northern Ireland expansion plan Liverpool Daily Post, 12 February 2010
- ^ 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.
- ^ "Home Bargains search for new space to take its portfolio of stores from 200 to 350 within four years". Property Week. 11 September, 2009. http://www.propertyweek.com/bargains%E2%80%99-hunt/3148574.article. Retrieved 31 December, 2010.
[edit] External links
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