We will continue to use our successful approach of international franchise stores in distant and emerging markets, owned assets - such as Magasin - closer to home and online delivery to an increasing number of countries worldwide. We expect to double the current number of 65 franchise stores over the next five years. Acquisitions remain on the agenda: we will continue to assess each relevant opportunity with the same financial discipline we have displayed in the past.
OUTLOOK It is clearly right to remain cautious about the strength of consumer confidence over the next 12 months given the uncertain economic outlook. We will therefore continue to run the business with tight management of costs and stocks, retaining as much flexibility as possible in the supply chain to enable us to deal with whatever the market presents. We will take a pragmatic approach to trading and continue to focus on maximising cash profit. Overall we are optimistic about our prospects and believe that we have a clear strategy for growth and to meet our aim of being a leading international, multi-channel retailer.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
