Peacock swoops for TFS
13 April 2012
DISCOUNT clothing retailer Peacock is moving into the perfumes market with the acquisition of the 29-store The Fragrance Shop in a deal worth just over £16m.
News of the acquisition came as Peacock unveiled a 60% surge in pre tax profits to £32.4m for the year ended March, on sales up by 24% to £490.4m. The dividend total is raised by 39% to 7.8p a share.
Chairman Gavin Simmonds said the acquisition of TFS, which was set up in 1995, would give the group a third retail format in a growing market.