This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-24345284
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Poundland eyes 1,000 UK shops as sales grow | Poundland eyes 1,000 UK shops as sales grow |
| (35 minutes later) | |
| The discount retailer Poundland is planning to expand as its sales continue to grow. | The discount retailer Poundland is planning to expand as its sales continue to grow. |
| The firm, which already has 458 stores in the UK and Ireland, plans to open 1,000 stores in the UK "over time". | The firm, which already has 458 stores in the UK and Ireland, plans to open 1,000 stores in the UK "over time". |
| The decision comes after the chain saw a 15% rise in total sales to £880m in the year to the end of March. | The decision comes after the chain saw a 15% rise in total sales to £880m in the year to the end of March. |
| "The discount sector is now a mainstream feature of the UK retail scene," said Poundland boss Jim McCarthy. | "The discount sector is now a mainstream feature of the UK retail scene," said Poundland boss Jim McCarthy. |
| "Over time I'm confident that we will have over 1,000 Poundland stores in the UK," he added. | "Over time I'm confident that we will have over 1,000 Poundland stores in the UK," he added. |
| Poundland, which sells all its items priced at £1 or less, served 4.5m customers each week in the 12 months to March, driving its pre-tax profit before exceptional items up 29 % to £23.1m. | |
| It opened 69 new stores over the year, including 17 in Ireland where it operates under the Dealz brand and items are priced at 1.49 euros. | It opened 69 new stores over the year, including 17 in Ireland where it operates under the Dealz brand and items are priced at 1.49 euros. |
| Mr McCarthy said its rapid expansion in Ireland - where it has gone from just two stores in 2011 to 26 now - demonstrated its potential for further international growth. | Mr McCarthy said its rapid expansion in Ireland - where it has gone from just two stores in 2011 to 26 now - demonstrated its potential for further international growth. |
| "We have the capability to generate positive financial returns in new geographies quickly," he said. | "We have the capability to generate positive financial returns in new geographies quickly," he said. |
| West Midlands-based Poundland was bought by private equity firm Warburg Pincus three years ago for around £200m. | West Midlands-based Poundland was bought by private equity firm Warburg Pincus three years ago for around £200m. |
| It hired Andrew Higginson, Tesco's former finance director, as chairman last year. | It hired Andrew Higginson, Tesco's former finance director, as chairman last year. |