Poundland news

06 February 2015
Poundland has announced that, subject to regulatory approval, it is to acquire 99p Stores' 250 store business for GB£55 million (US$83.8 million). An important step forward for Poundland The Poundland business has gone from strength to strength over recent years, with a hugely impressive track record of double-digit growth. The business has delivered this while maintaining solid profitability...
21 January 2015
Poundland has revealed robust Q3 figures for the 13 weeks to 28 December 2014, during which it saw record Christmas trading. Q3 sales up 9.8% During Poundland's third quarter, total revenue, excluding Spain, on an actual currency basis was £328.4m, up 9.8% on the previous year (+10.2% on a constant currency basis). Poundland increased its revenue in the quarter by £29.3m, with good growt...
18 December 2014
The high street value channel has experienced outstanding growth this year. We reflect on the progress of the UK's high street value discounters over the last quarter and how they are setting themselves up for further growth in 2015. Poundworld invests in IT Single-price retailer Poundworld has begun a 10-month investment programme in its IT systems as it prepares to double its es...
27 November 2014
Poundland has reported strong H1 figures for the 26 weeks ended 28 September 2014, with like-for-like sales up 4.7%. Total sales up 15% Single price point retailer Poundland has enjoyed a solid performance in the first half of the year with double-digit sales growth of +15% taking turnover to £528.2m. Fuelling the high street retailer's success is its robust store opening plan, which has ...
18 November 2014
High street discounter B&M has reported an increase of 29.7% in sales for the six months to 27 September 2014, during which it opened 20 new stores. S ales boosted by German discount business Revenue of £739.8m was boosted by the acquisition of German discount chain Jawoll earlier in the year. B&M has an 80% stake in Jawoll which operates 49 stores in Germany, adding £58.8m to the discoun...
09 October 2014
  Andrew Higginson started as Chairman at Morrisons last week, but has spent time in recent years away from the limelight; enough time to consider himself an ‘outsider’ and give a frank perspective of what has been happening generally in the sector. The commentary below is Andrew’s views in a very considered speech at this week’s IGD Convention in London. Extraordinary times Andrew starte...
14 August 2014
The high street discount chain 99p Stores has opened a new food-to-go format store in Northampton offering hot food-to-go, an in-store bakery and a coffee offer.  Offering an increased range The new store in Northampton is the retailer's 250th store to open. This latest addition to 99p Stores' estate is worlds away from its standard model, offering a comprehensive impulse range which inclu...
12 August 2014
UK single-price discounter Poundworld has withdrawn from the Poundshop.com joint venture it set up in February with Poundland co-founder Steve Smith. Need for a shared vision Poundworld cited the reason for its withdrawal from the venture as a failure “to reach a shared vision for the online store”. The site, which used Poundworld’s branding and supplied stock, was the first single priced o...
29 July 2014
Morrisons has announced that retail heavyweight Andrew Higginson will succeed Sir Ian Gibson as chairman when he retires in 2015 after seven years in the role. In a related move, Higginson will step down as chairman of Poundland and will be succeeded by Darren Shapland. Former Tesco FD to chair Morrisons Andrew Higginson is a widely respected figure within the industry and will bring an ...
18 July 2014
Our latest UK channel forecasts show discount and online leading the way as growth channels. But while multichannel strategies have been adopted elsewhere, they have been slower to reach discount. Here we assess progress to date and ask whether discounters could develop online strategies of their own.    Recent forays online from high street discounters A key driver of discounter success has ...