Poundland news

19 November 2015
Poundland has reported an increase of 5.0% in group revenue for the six months ended 27 September 2015. However, like-for-like sales and profits have dipped with Poundland impacted by strong competition as it goes through a significant time of transition. Like-for-like sales drop to -2.8% Poundland's group revenue came in at £554.7m, up 5.0% on the previous year, however this positive...
06 October 2015
Jim McCarthy, Poundland’s chief executive, spoke at IGD’s Big Debate, setting out to dispel key myths around discount retailing and how the outlook for the channel remains very positive. Myth 1. Fixed price retailing cannot continue against a backdrop of inflation McCarthy highlighted how Poundland had existed for 25 years and has not raised its price point, and also how US-based Dollar Tre...
24 September 2015
Poundland has provided an update on current trading and announced plans to raise £50m to fund the acquisition of smaller rival, 99p Stores. New stores drive sales but hit profits In the 25 weeks to 20 September 2015, sales were ahead by +5.5% on a constant currency basis (+4.9% on an actual currency basis), lifted by stronger trading over the last 14 weeks when sales increased by 6.6% (cons...
18 September 2015
Poundland has announced that it has received full regulatory approval from the Competition & Markets Authority to complete its proposed acquisition of 99p Stores' 250 store business. No substantial lessening of competition Today's announcement follows the CMA's communication in August that it had granted provisional clearance for the merger. Having decided to take the proposed acquisiti...
01 September 2015
Poundland has announced its launch online in the UK, a move which has been highly anticipated since its intentions to trial a transactional website were announced in early 2014. No minimum orders Poundland has announced its launch online in the UK, a move which has been highly anticipated since its intentions to trial a transactional website were announced in early 2014. Delays to t...
25 August 2015
The Competition and Markets Authority has provisionally cleared Poundland's bid for its smaller rival 99p Stores, concluding that the merger would not lead to a substantial lessening of competition in the sector. Competition not compromised by merger Poundland announced its intention to acquire 99p Stores in February for £55m and following an initial investigation, the Competition and Marke...
07 July 2015
Leading high street variety discounter Poundland has appointed former Sainsbury's convenience director as its new trading director, according to reports in The Grocer. Simon Twigger to succeed Richard Lancaster Simon Twigger has been a key figure in Sainsbury's recent development. His move to Poundland is a coup for the fast growing single price point retailer, and he brings an impressive trac...
18 June 2015
Poundland has reported full year sales growth of 11.4% for the year to 29 March 2015. Underlying pre-tax profits reached £43.7m, a strong performance at +18.6%, while the retailer has also announced that Trading Director Richard Lancaster is to leave the business. Record sales exceed £1bn Poundland hit a milestone in the last full financial year with sales reaching £1.1bn. A healthy sales y...
06 May 2015
Poundland will proceed to Phase II of the UK Competition and Markets Authority (CMA) investigation regarding the discounter's acquisition of rival variety discounter, 99p Stores. Investigation reaches Phase II Following the CMA's initial review published on 9th April 2015, Poundland requested a three week suspension. In this time, however, the discounter and 99p Stores have not addres...
27 April 2015
Following an interview between Poundland CEO Jim McCarthy and the Daily Telegraph, we look at how the retailer plans to grow.  A strong growth story to date Leading UK variety discount and single price-point retailer, Poundland opened its first store 25 years ago and has celebrated its silver jubilee year with its sales surpassing £1bn and over 590 stores.  While still UK focused, Poundlan...