UK Real Estate
In fiscal 2010, total store capital expenditure was £6.7 million (fiscal 2009: £18.4 million), as a result of a lower level of store refurbishment reflecting the uncertainty of investment proposals achieving the required return for authorization in the current economic environment. At January 30, 2010, 64% of the UK division’s stores (January 31, 2009: 60% of stores) were trading in the open consumer oriented format, and there were 347 H.Samuel stores (January 31, 2009: 352) and 205 Ernest Jones stores (January 31, 2009: 206). In fiscal 2011, store fixed capital investment is planned to be about £9 million.
Recent and planned investment in the store portfolio is set out below:
| Fiscal 2011 planned | Fiscal 2010 | Fiscal 2009 | Fiscal 2008 | |
| Major store refurbishments and relocations | 23 | 18 | 46 | 27 |
| New H.Samuel stores | - | - | 4 | 1 |
| New Ernest Jones stores | - | 1 | 5 | - |
| Store fixed capital investment | ~£9m | £7m | £18m | £9m |