Budget bookseller The Works to open 60 new stores by 2030

Value bookseller The Works plans to open 60 new stores by 2030 as part of a new strategy to elevate its annual sales and brand. The retailer aims to deliver sales in excess of £375m and an EBITDA margin of at least 6% by 2030. Alongside the net 60 new stores, the new strategy – Elevating The Works – aims to optimise store execution, enhance the online customer experience, and boost brand recognition. It also aims to grow EBITDA margins by driving like-for-like store sales on a fixed cost base, improving product margins, reducing operating costs, and optimising its store portfolio. During the 26-week period ending 3 November 2024 (H1 FY25) The Works achieved £124.2m in revenue, a 1.3% increase compared with the H1 FY24 period, which covered the 26 weeks ending 29 October 2023. The retailer has estimated a £6.5m impact in FY26 from increases in the national living and minimum wages and changes to employers’ National Insurance contributions. Gavin Peck, chief executive of The Works, said: “Looking ahead, we are mindful of the need to navigate fragile consumer confidence and significant cost headwinds but believe there is much to be optimistic about at The Works.”