Deichmann announces UK expansion plans

// Deichmann to expand its stores across the UK
// It opened 9 stores last year, bringing its total UK store portfolio to 102

Deichmann has announced plans to expand its UK store portfolio in a bid to tackle recent losses.

The German footwear retailer opened nine stores across the UK last year and currently has a total of 102 stores, the Evening Standard reports.

Deichmann made a pretax loss of £1.4 million during 2018, compared to a £332,000 profit in 2017.

Despite its losses, the retailer aims to launch further stores across the UK, which is in contrast to numerous retailers finding ways to shut down stores as consumer confidence levels drop and rates bills rise.

Deichmann said it had higher levels of discounting last year to clear excess stock, hitting margins.

Meanwhile, sales rose by 3.5 per cent to £98.1 million last year, and the company now remains positive about its future growth.

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