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Gloucestershire Business News

Home Bargains reaches turnover of £2.8billion

Discount retailer Home Bargains has revealed a 13 per cent increase in turnover for the year to June 30, 2020.

In its latest financial reports, the business which has stores in Gloucester, Cheltenham, Stroud and Cirencester posted a turnover of £2.8 billion for the period.

Home Bargains saw operating profit increase by 13 per cent to £261 million, but said costs related to the pandemic had reached £14.4million.

It said the turnover growth was largely down to new stores, relocations and improving sales within existing branches.

Home Bargains stores across the country have remained open throughout lockdowns due to being classed as an essential retailer.

The brand had 525 retail sites at the end of June, up from 506 in 2019, and 25,300 employees, an increase of around 2,500. Many of the new roles were in retail, with the rest in warehouse and office areas of the business.

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