Select promises 500 new jobs in 2012
20 January 2012 10:11
Young value fashion retailer Select has said that it will be creating 500 new jobs as it embarks on its most "ambitious annual store portfolio expansion to date", with 30 new location openings planned for 2012, including Westfield Stratford City in February.
The company said reported "impressive" sales growth for 2011 with annual like-for-like retail sales increasing 18% in its last financial year and seeing a "strong festive performance".
Last year saw the brand's retail portfolio grow to 135 stores, including new locations such as Manchester Arndale and Liverpool Church Street, alongside a rise in turnover of 22% to £46.3 million. The company added that it expects to hit £80 million in turnover and £2.5 million in pre-tax profit in 2012.
Chief executive, Cafer Mahiroglu commented: "Select has emerged as an ongoing success story in the battered high street retail market. We're attacking with a combination of the right product at the right price and a hands-on, ambitious approach from the top-down. As evidence suggests, in recessionary times there is sustained, even growing demand for a viable alternative on the high street for trend-driven, affordable fashion product."
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