Spar retailer Tates has revealed plans to operate 250 stores by 2010. Managing director Geoff Hallam announced the target on the back of record profits of £5.4m for 2007/08, an increase of £1.1m on the previous year.
The AF Blakemore-owned group, which owns 213 stores, has spent some £9m on refurbishments and acquisitions in the past year and plans to spend even more in the next 12 months.
Hallam announced the results at the annual Tates store managers' conference, held in Disneyland Paris. He congratulated staff on their efforts, but warned that now was no time to rest on their laurels.
He said: "Acquiring the right stores is not easy. Price, product, innovation, location, customer service and the brand need to be right if we are to deliver a great customer experience in this highly competitive market."
Hallam also confirmed that more stores would list products from the AF Blakemore-supported Heart of England Fine Foods project.