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Downturn boosts Poundland sales
Bargain firm Poundland posted a rise in sales in December, as consumers sought extra value on the high street.
Same-store sales during the five weeks to 4 January rose 3.9% year-on-year. Sales during the period including new store openings rose 24.3%.
Private equity company Advent International has owned it since 2002.
The chain, which has 200 outlets, plans on “significant” growth in 2009, creating 30 new stores and 1,000 jobs.
“We are well positioned to capitalise on the continuing strong customers trend to shop savvy and seek value for money,” said chief executive Jim McCarthy.
More expensive retailers have been ground their cheaper rivals as consumers have hunted shopping bargains.
Topics: Highstreet |
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