The Reject Shop Limited
(ASX:TRS) has affirmed its expansion plans are on track as it aims to open 11 more stores before Christmas.
Speaking at the discount retailer’s annual general meeting yesterday Managing Director, Chris Bryce said the company is aiming to build on its existing stores' sales base over the coming year.
Mr Bryce also advised The Reject Shop has had a pleasing start to the [2013 financial] year, with positive comparable sales for the year to date despite challenging consumer sentiment and general trading conditions.
The Reject Shop was impacted by the Queensland floods early 2011 forcing the closure of its major distribution centre in Ipswich.
The company announced last month it has finalised a $27.4 million insurance claim arising from the natural disaster.
The Reject Shop generated a net profit of $21.9 million in the 2012 financial year.
