A RETAIL giant based in East Lancashire has seen earnings rise by 50 per cent in its most recent financial results as it celebrates ‘a year of milestones’.

Burnley-based Original Factory Shop (OFS), which also has a store in Great Harwood, celebrated opening its 200th shop nationwide this year and saw earnings rise to £14.2 million for the year ending March 31.

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The discount department retailer opened 11 new stores during the year, taking their total to 206 now, as well as branching out into a retail park for the first time.

Overall sales grew 7.1 per cent while like-for-like sales rose by 4.2 per cent during the year, while six new directors were appointed across the business during the year.

Tony Page, CEO of The Original Factory Shop said: “We’re very pleased with our performance,” he said.

“The Original Factory Shop is an exciting business.

“We have continued to perform well this year and this strong set of results lays testament to the hard work of our colleagues throughout the business in growing the company, and the success of the investments and initiatives that we are rolling out.

“FY2015 has been a year of milestones – our 200th store; entry into larger towns; and our first retail park location, and we look forward with eager anticipation for further progress as we continue to roll out our growth strategy throughout next year.”

The company has focused on investment in fashion and beauty this year. With a more fashion-led marketing approach, sales went up 10 per cent to record levels, while the firm signed 50 new brand partnerships including Pretty Polly, Weird Fish and Jeff Banks.

Beauty performed strongly overall with double digit growth in each division – including skin care, fragrance and cosmetics –reflecting a number of new brand partnerships, including Jimmy Choo fragrance.