The Original Factory Shop (TOFS) has made progress on its strategic growth plan after successfully completely the company's largest-ever IT systems upgrade.
The IT investment was part of a 2-3 year digital transformation plan and its systems upgrade, which improved the retailer's operations in store, was accompanied by a new web platform, introduced earlier in its financial year. The retailer has also introduced an internal merchandise management system to improve the shopping experience in store and online.
The IT implementations were announced as the retailer reported a 5.9% increase in turnover to £184.5 million, while EBITDA increased 6.3% to £15.1 million during the year period ending 27 March 2016.
"We’re pleased to be reporting on the continued growth of the business, alongside significant investment into TOFS, within what continues to be a challenging market. We believe that our success lays testament to the powerful customer proposition which we’re delivering; bringing well-loved brands at discount prices to Britain’s communities," said Tony Page, CEO of TOFS.
“It’s a very exciting time at the business as we progress with our growth strategy, having implemented our largest-ever store IT systems upgrade, made excellent headway with upgrading our store portfolio, and brought on board a whole host of great new brands."
Speaking to Essential Retail this spring, Page said TOFS' website used to be an embarrassment, before the retailer replatformed onto Magento, using a Yorkshire-based eCommerce partner called Onstate.
The retailer now has a fully optimised website which was a critical part of its transformation project across the business.
Now the retailer has made significant digital investments to the supply chain, Page said the next thing on the roadmap for TOFS is developing a single view of stock across the business.
