...instore
| Company type | Public limited company |
|---|---|
| Industry | Retail |
| Predecessor | Brown & Jackson plc |
| Headquarters | Huddersfield , United Kingdom |
Area served | United Kingdom |
Key people | Peter Burdon (CEO, appointed May 2007) |
| Products | Affordable homeware |
Number of employees | 5000+ |
...instore was a British retail chain specializing in affordable homeware, with its headquarters located in Huddersfield, West Yorkshire. Although the company was based there, it did not operate a store within Huddersfield itself; the nearest outlet was situated at Ravensthorpe Shopping Park, Dewsbury. The business employed a workforce exceeding 5,000 individuals.
Instore plc's corporate background
Previously known as Brown & Jackson plc, Instore plc managed a portfolio of 340 outlets across the United Kingdom, encompassing the "...instore", Poundstretcher, and Ponden Mill brands.
The "...instore" label originated in 2002 when approximately half of Poundstretcher’s locations were rebranded to target the mid-market consumer segment. Concurrently, the company divested its subsidiaries What Everyone Wants, Your More Stores, and Brunswick Shoe Warehouse. In 2004, Brown & Jackson sold its retail operations in Poland to South African firm Pepkor. The following year, in July 2005, Brown & Jackson plc officially adopted the name Instore plc.
A shift in management in 2006 led to a reversal of the rebranding approach; starting in 2007, new outlets were launched under the Poundstretcher name. In January 2008, Instore plc expanded by acquiring 33 Ponden Mill stores through a licensing agreement with administrators and also obtained certain rights related to the Coloroll brand.
By 2009, the company had streamlined its principal retail estate under the Poundstretcher branding.
Poundstretcher
Established in 1981 by Paul Appell and Stephen Fearnley, Poundstretcher had grown to 338 stores by 2004. Around half of these were converted into the ...instore format by 2002, sharing marketing efforts and promotional deals. However, by 2009, this rebranding was considered unsuccessful, leading to plans for ...instore outlets to revert back to the Poundstretcher identity.
A larger retail concept named Poundstretcher Extra was introduced during this period.
Following their sale of Poundstretcher, Appell and Fearnley relaunched United News Shops, which became the largest operator of convenience stores and cafeteria services within British hospitals before selling it to WH Smith in March 2008.
Profit alerts
In December 2006, the company issued a profit warning indicating that annual earnings would significantly underperform forecasts due to complications at the Huddersfield distribution centre caused by new software implementation and challenging trading conditions. Nevertheless, by January 2007, sales had improved with a 4.6% increase over six weeks.
Peter Burdon, formerly CEO of Thorntons, was appointed as chief executive in May 2007. In July 2008, Instore plc declined an £11.4 million cash bid from Seaham Investments, which held a 30.6% ownership stake, on grounds that the offer undervalued the company. After a poor Christmas trading season, the firm reported losses ranging from £4 million to £5 million for the fiscal year ending January 2009.