A unique, specialist proposition driving strong returns
We adopt a good and circular approach to sustainable growth, and continue to ensure it is embedded into our strategy and ways of working.
A winning and advantaged business model:
Market leader
Low share of a c.£24bn highly fragmented market
Specialist product proposition
Broad appeal across income and age groups
Total retail system
Thriving store and digital channels
Unique operating model
Own-brand design and committed supplier partners
Well established values
Growth mindset, frontline focus and long-term decisions
Financial strength
Strong balance sheet and capital-light growth model
What this means for our investors:
Growth
- Compelling runway to grow share of a large, fragmented addressable market
- Consistent track record of share gains over recent and long-term history
Sustainable profits
- Continued investment for sustainable growth, maintaining stable operating margin
- Resilient track record of performing through all economic cycles
Cash returns
- High cash conversion
- Well-established framework for returning cash to shareholders