Poundland sees total sales of £880m

Published on: 2nd October 2013

Poundland is aiming to more than double its number of UK stores after securing record sales of £880m for the 52 weeks ending 31 March 2013.poundlandshopfront300

During the period, the retailers achieved 14.6% growth in gross profits to £323.4m and made record underlying earnings of £45.4m, up 15.6% over the previous year. There are currently 458 stores across the UK, and the company’s CEO, Jim McCarthy, has said that the retailer is on track to open 1,000 stores, should the current levels of growth continue. During the aforementioned period the retailer opened 69 new stores.

Poundland’s European sister company, Dealz, is also performing well opening its first two stores in 2011, and now owns 26. Poundland recently revealed plans to open a new 350,000 sq ft distribution centre in Essex that will create 650 permanent jobs to cope with rising demand.

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