Home Bargains

Coordinates: 53°27′51.6″N 2°53′57″W / 53.464333°N 2.89917°W / 53.464333; -2.89917

Home Bargains
Private limited company
Industry Retail
Founded Old Swan, Liverpool, England (1976)
Founder Tom Morris
Headquarters Liverpool, England
Number of locations
 370[1]
Area served
 United Kingdom
Key people
 Tom Morris (Managing Director),
Joe Morris (Operations Director),
Graeme McLoughlin (Finance Director)
Products Grocery, General merchandise
Revenue Increase£1.27 billion (2014)[2]
Increase£132 million (2014)[2]
Owner TJ Morris
Number of employees
 16,000 [1]
Website homebargains.co.uk

Home Bargains is a chain of discount stores offering home bargains, operating throughout the United Kingdom, founded by Tom Morris in Liverpool, approximately 40 years ago which was then called Home and Bargain. It is the trading name of TJ Morris Ltd. In late 2013, the company published a record-breaking turnover of £1 billion.

Stores

Home Bargains stores have red and blue branding. They can usually be found in major shopping streets, as well as in shopping centres and arcades. Most are centrally located though several are in out-of-town retail parks.

Stores range from small to medium outlets, with the retail park outlets being slightly larger. Most have a one way system, with shoppers going in one door and exiting via another.

Home Bargains is also the supplier of similar discount chain Quality Save. It supplies Quality Save with all stock, shop fittings, trolleys and tills. Because of this Quality Save and Home Bargains are often thought to be the same company.[3]

Staff

Home Bargains employ over 16,000 people from head office staff to warehouse staff and shop staff.[1]

Growth

The retailer has been given approval to construct new headquarters in Merseyside, which it estimates will create 700 jobs at the Axis business park, Croxteth, as it builds a 10-storey distribution centre and retail training facility.[4] The chain aims to have 500 stores within 10 years with employee numbers exceeding 10,000.[5] The retailer wants to expand to other parts of the UK in the future, but Morris added: "We want to grow slowly, at a rate which is controllable. We don't want to over-expand. "[6]

In August 2007, two stores in South Wales were opened in Barry and Caerphilly, these had been acquired from Netto which abandoned its plans to expand into the region.[7] Home Bargains further grew their presence in South Wales by taking over stores from Buyology, all of these were originally Hypervalue stores.

In Summer 2008, the retailer acquired a number of former Kwik Save stores which had laid empty since that retailer had gone into administration in 2006, further expanding the Home Bargains chain. These stores included Skelmersdale, Bangor, Rhyl and Ebbw Vale.

The retailer announced in October 2008 that preparations are underway to expand into Scotland for the first time, opening their first store in Rutherglen in December 2008. There are plans to invest more than £10m in its first group of stores, and by March 2009 the company aims to have six stores within the Glasgow area, employing more than 200 people.[8]

In 2009, the retailer acquired 14 former Woolworths stores from the failed Woolworths Group chain. These stores include Cardiff and Port Talbot in South Wales. In Fife, Scotland, two former Woolworths stores have been opened in shopping centres in Glenrothes and Kirkcaldy. By 2015, the firm aims to be turning over £1bn a year, and have grown the number of its stores to 350, with the potential for 600 across the UK.[9]

In February 2010, the company's £25 million Northern Ireland expansion plan was announced .[10]

In August 2011, Home Bargains opened a website to enable customers to shop with them online.[11]

In June 2013, the first Home Bargains store in Cornwall opened at Truro.[12] The company's latest store opened on 23rd April 2016 in the Knaves Beech retail park, Loudwater (High Wycombe)

Sporting ventures

As of the 2013-14 football league season, Home Bargains have featured on the front of now Conference Premier side Tranmere Rovers.

Financial performance

The retailer has seen strong sales growth over the past few years, with turnover more than doubling in a 4-year-period (2006 to 2010).[13][14]

Year ending Turnover (£m) Trading profit (£m) Retained profit (£m)
30 June 2010[13] 590 46.6
30 June 2009[15] 484 43.5
30 June 2008[6] 383 34.7
30 June 2007 322 30.2
30 June 2006[14] 273 20.3

References

  1. 1 2 3 "About Us". TJ Morris LTD. March 2011. Retrieved 20 October 2015.
  2. 1 2 "Home Bargains turnover up 23%". FT.com. 14 October 2013. Retrieved 9 January 2014.
  3. ↑ "Why I would like to rebrand discount store Home Bargains". Mighty Mags.
  4. ↑ Home Bargains expansion will create 700 new jobs Liverpool Daily Post, 16 January 2008
  5. ↑ Home Bargains moves into new areas housewars live.net, 9 July 2007
  6. 1 2 "Home Bargains cashes in on downturn as profits surge". Retail Week. 18 September 2008. Retrieved 2008-10-25.
  7. ↑ Netto
  8. ↑ "Home Bargains moves into Scotland as business continues to boom". Liverpool Daily Post. 22 October 2008. Retrieved 2008-11-29.
  9. ↑ "Home Bargains to take over 14 former Woolworths stores".
  10. ↑ Home Bargains unveils £25m Northern Ireland expansion plan Liverpool Daily Post, 12 February 2010
  11. ↑ "TJ Morris launches e-commerce website".
  12. ↑ "50 new jobs in Truro as Home Bargains opens its first Cornish store". Retrieved 6 February 2014.
  13. 1 2 "Home Bargains turnover up 23%". Place North West. 1 October 2010. Retrieved 31 December 2010.
  14. 1 2 "Home Bargains moves into new areas". Housewares Live. 9 July 2007. Retrieved 2008-10-25.
  15. ↑ "Home Bargains search for new space to take its portfolio of stores from 200 to 350 within four years". Property Week. 11 September 2009. Retrieved 31 December 2010.

External links

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