Partner Article

Poundland continue growth trajectory

Discount high street retailer Poundland says profits have grown 14.6% and sales have grown to £880m.

During 2013 the chain opened 69 new stores and moved further into the Republic of Ireland with 17 new ‘Dealz’ stores.

Jim McCarthy, CEO of Poundland, said: “In the UK, Poundland is powering ahead. Our single price point and our amazing value are appealing to an increasingly broad section of UK shoppers.

“We opened a net 51 new stores in the year and that rate of growth has continued into the current year. I’m confident that over time Poundland will have over 1,000 stores across the UK.

“In the Republic of Ireland – where we trade under the Dealz fascia – we’ve gone from just 2 stores in late 2011 to a 26-store, profitable operation with significant further openings planned in the current year. This is a clear demonstration that we have the capability to generate positive financial returns in new geographies quickly and underlines the potential in the business for further international growth.

“The new financial year has started well and we are trading ahead of our expectations. There are some early but encouraging signs of improvement in the economy and in consumer confidence and Poundland is well placed to capitalise on any upturn.”

This was posted in Bdaily's Members' News section by Tom Keighley .