EACH shops raised £1.1m last year for 'vital work'
PUBLISHED: 00:00 14 March 2019 | UPDATED: 10:36 14 March 2019
East Anglia's Children's Hospices has been revealed as the second-fastest growing retailer in a national survey.
The latest edition of the annual Charity Shops Survey “saw a slight fall in the number of charity shops - the first such drop since 2003”, with charities such as Oxfam and Age UK reporting a series of closures.
But EACH bucked that trend adding seven shops to its retail portfolio in 2017/18.
That rise was reflected in its income growth, with EACH recording the second-largest increase of 21.8%.
EACH has done work to ensure its shops report a health profit margin and, with 33.2% of its income going straight towards care and support for children, young people and families, it ranks firmly in the top 15 for profitability.
Ian Nicolson, EACH head of retail and trading said: “Our shops generated an impressive profit of more than £1.1 million last year and are becoming an ever more important source of funding for the vital work EACH does offering care to hundreds of children with life-threatening conditions across the region, and support to their families.
“We know some people feel high streets are becoming saturated with charity shops at the moment, so we’re always thinking about what we can do to offer something different. We now have a range of outlets, including boutique, furniture and clearance shops, and always try to offer something special, like the children’s zone in Dovercourt.
“Our shops also run their own events and initiatives – such as the kids book club in North Walsham that has more than 330 members – to engage their communities. We hope the fact people’s money goes towards a local service resonates, too, and I think the impressive results we’ve had over the last year prove that’s the case.
“I’d like to say thank you to anyone and everyone who has supported an EACH shop, and please continue supporting us because we definitely plan to continue our programme of shop openings this year.”
Two more new shops are on the way, in Dovercourt which is opening today and in Cambridge, opening in April.
Mr Nicolson added; “Dovercourt, in the former Hughes shop next to the Co-op, is number 37.
“We eventually want to achieve 50 shops.”