Somerfield has revealed plans to open an additional 50 new stores this year as part of a £100 million investment in the business.
The initiative will also see the redevelopment of 100 Texaco forecourt sites.
The move is part of the retailer’s mission to become the leading local grocery store chain in the UK.
The project was unveiled as the chain announced it achieved sales of £4.37 billion for the 2006-07 financial year, representing a year-on-year decline of four per cent, and earnings before interest, taxes, depreciation and amortization (EBITDA) of £218m - an increase of 38 per cent.
Somerfield chief exective Paul Mason said: “I'm pleased with the performance and we are achieving our targets in terms of sales and profitability.”
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