Discount retailer 99p Stores to invest £25m in new stores

Discount retailer 99p Stores has revealed plans to invest a further £25m in opening up to 70 new stores, a media news report informs us.

The extra available funding will be used for an accelerated new store opening programme from 2014 to take the chain’s portfolio past 300 outlets.

In the year to 31 January 2013, 99p Stores boosted sales by another 26 per cent to £341m, soaring from £112m in 2009.

Chief executive Nadir Lalani said: "I am very proud of the growth we have achieved with 99p Stores so far but we know from the popularity of our stores and customer feedback that there is still a substantial opportunity to grow much further.”

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