Change Capital plans 25 new Robert Dyas stores this year

The owner of hardware and homeware retailer Robert Dyas has announced an aggressive plan for expansion over the next three years.

Change Capital Partners, which acquired the chain in March last year for £61m, has revealed that it intends to open 65 new branches by the end of 2007, 25 of which are planned for this year.

The news follows a strong performance from the group over the nine months since the takeover. Robert Dyas increased sales by 15% in the last three months of 2004

(8% when the 10 store openings in the period are discounted) and saw like-for-like sales up 6% in December bucking the national trend. This figure rose even further to 16% in the ten days after Christmas Day.

Chief executive of Robert Dyas Alan Smith, formerly of Somerfield and B&Q among others, recognised the hard work of the staff over the period and anticipated further growth for the company. ”I look forward to building on this early success and to further solidifying Robert Dyas leading market position” he said.