Joe Morris, retail director of Liverpool-based Home Bargains, said plans to expand from 170 to 500 stores would include new North West units.
Speaking after family-owned parent company, TJ Morris, reported turnover up 26% to £483m for 2009, Morris said: "The search for new store sites is nationwide, from Glasgow to Wales and the M4 corridor to outside the M25, but there is plenty of scope still in heartland of the North West."
The group, which trades from more than 190 stores, produced profit of £44m in the past year. Net value was put at £138.2m.
The company is currently expanding its warehousing capacity in Axis Business Park, Gillmoss, from 400,000 sq ft to 800,000 sq ft. The extension is high-bay, meaning the distribution capacity will increase fourfold.
Morris said the new facility will handle 350 stores but after that a further depot, probably in the Midlands, will be required. The 350-store milestone is expected to be reached in four years' time.
Morris said there were between 25 and 30 new units under offer at present, which is the typical rate of expansion.
The group's retained agent is independent retail specialist Nigel Bennett, partner at Liverpool-based Bennett. He said the expansion was opportunistic and there was 'a world of opportunity' in the market at present.