Skip navigation

Gloucestershire Business News

£1 billion turnover within Range

Quite how you square it with those who foretell only bitter winds blowing through the British high street of late is uncertain, but a nationwide retailer is closing in on a £1 billion turnover.

CDS (Superstores International), known to most of us as The Range, saw turnover grow from £869 million to £945 million for the 53 weeks to February 2.

Profit before tax was up at the homeware and leisure retailer from £53.5m to £71.2m on a year-on-year basis.

The business, which has outlets in Gloucester and Cheltenham, said it had opened 12 new stores during the last year to add to its 19 opened the year before.

"Gross profit increase eight per cent as a result of the increase in turnover, achieved by increasing sales in existing stores and increasing the number of trading stores but maintaining the level of fixed costs.

"The group is optimistic about the future given the continued and associated economies as well as the strength of the concept," said the firm's annual report.

It added: "There is a risk that the UK's departure from the EU could have an impact upon buying, supply chain and retail activities. The board has sought advice on the potential impact of the UK leaving the European Union and will continue to monitor developments and take suitable action if required."

The business said it was expecting 2019/20 to "show further significant growth in sales from continuing operations".

Related Articles

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Monday, July 6 Image

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Monday, July 6

The latest important news and updates from across Gloucestershire as the coronavirus crisis continues.

Council considers proposals for Marketing Gloucester Image

Council considers proposals for Marketing Gloucester

A small 'place marketing' team within Gloucester City Council and a steering board to work alongside it are among the recommendations of a report into The Future Marketing of Gloucester.

Lloyds boss to step down  Image

Lloyds boss to step down

The chief executive of Lloyds Banking Group will step down next year after a decade in charge.

Staycations boost Gloucestershire motor dealership as demand for motorhomes accelerates Image

Staycations boost Gloucestershire motor dealership as demand for motorhomes accelerates

The 102-year-old Warners Motor Group in Gloucestershire has seen soaring demand for motorhome rentals as holidaymakers plan UK trips because of restrictions on overseas travel.

Copyright 2020 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.