Homewares retailer Tiger roaring as middle-class shoppers seek bargains

 
Discount draw: Tiger has managed to get stores in premium areas
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Simon Neville26 May 2015

Discount homewares retailer Tiger said it has been opening two stores every week across Europe as part of a rapid expansion that has seen sales soar.

The Danish company, which has 129 stores across the UK, said revenues jumped 44% to 2.46 billion kroner (£234 million) with profits before tax and one-off costs rising 68% to 196 million kroner in 2014.

Bosses at the company said they have grown its profit margin and will continue opening stores across Europe to add to its 411-store portfolio across 26 countries.

Last year, Tiger entered France, the Czech Republic, Estonia, Austria and Cyprus for the first time.

The results are for parent company Zebra, while in the UK the retailer is still run as separate entities across the country, with its biggest London and South-east region knocking up pre-tax profits of £4.8 million last year on sales up 45% to £30.7 million.

Philip Bier, chief executive for the region, recently revealed the growth has been fuelled by the rise of middle-class shoppers hunting for bargains.

He added that new stores tend to be in more-premium locations, such as Westfield and Richmond, to cater for richer customers.

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