Poundland has released its results for the nine months to June 30th 2019.
Revenue growth driven by clothing
Revenue from Poundland and Dealz rose to €1,358m, an increase of 3%, from €1,324m in 2018. This is an improvement on the half year ending 31 March 2019 when revenue grew by +1.6%.
Performance was driven by the PEP&CO clothing shop-in-shops which are now in around 300 stores. During this period the retailer opened a net 2 stores. It also relocated to eight larger sites. This brought Poundland's store total to 842 at the end of June.
Poundland is continuing to adapt its proposition in the UK. It has recently started to trial a new pricing structure which will enable it to widen its range. The retailer has said it wants to move away from its high dependency on the single price point. However, three quarters of products will remain at £1.
International expansion plans
International business Dealz, in Spain and Poland, continued to trade well over this period. The target is to treble the number of stores over the next 12 months, with the aim of reaching 16 stores in Spain and 37 in Poland.
Retail Analysis weekly newsletter