Connect with us

Hi, what are you looking for?


Poundland breaks £1bn barrier, cashing in on consumer appetite for a bargain

Sales at Poundland broke through £1bn for the first time last year, as the discount chain cashed in on consumers’ love of bargains.

Sales climbed nearly 12% to £1.1bn in the year to the end of March, the company’s first year as a listed stockmarket company. Poundland, which began life as a Lincolnshire market stall in the 1990s, floated on the London stock exchange in March 2014.

Like-for-like sales, which strip out sales from new store space, were up 2.4% last year. Underlying profits before tax climbed 18.6% to £43.7m.

Total sales growth – including new stores – has slowed to just over 4% in the most recent weeks, but Poundland said this was due to comparisons against especially strong numbers from last year, when business was boosted by a later Easter, good weather and the loom band craze.

The retailer, which sells everything at £1, opened 60 new stores last year, taking the total in the UK and Ireland to 588. It plans to open a similar number this year. It will also push ahead with 10 shop openings in Spain after trialling a new name, Dealz, and opening five stores in the past year.

Poundland is trying to expand on the high street with the planned £55m acquisition of rival 99p stores, which is being scrutinised by regulators. The deal would add 251 stores, taking Poundland closer to its goal of building a 1,000-strong chain.

The march of the discounters is seemingly unstoppable, with Aldi and Lidl leading the pack. They have unleashed a supermarket price war that has hit the traditional big grocers.


You May Also Like


Professing to be the lead in Thai relationship with over 1.5 million enrolled single people, Cupid Media’s ThaiCupid brings the one in every of...


Read more about switzerland women here. Swiss ladies and men are not reknown for being the most chatty, outgoing or spontaneous when meeting strangers...


An exclusive article form Orestis Karipis In the 1930’s and 1940’s acid was the weapon of deceived husbands and wives in the Western world...


In food, if there is one thing you can say without fear of contradiction, it is this: Britain loves burgers. The UK market is...

Copyright © 2020 All Rights Reserved