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Wednesday, 16 April 2014

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Poundland to open 30 new stores across country

Budget firm Poundland will open 30 new stores as price conscious shoppers helped it buck the high street trend.

The firm said it saw a rise in sales in December of 3.9 per cent during the five weeks to January 4. Sales during the period including new store openings rose 24.3 per cent.

The chain, which has branches across Cumbria, plans on “significant” growth in 2009, creating 30 new stores and 1,000 jobs.

Private equity company Advent International has owned it since 2002.

Chief executive Jim McCarthy said: “We are well positioned to capitalise on the continuing strong customers trend to shop savvy and seek value for money.”

More expensive retailers have been losing out to their cheaper rivals as consumers have sought ways to cut their spending.

The rise of firms like Poundland was cited as one of the reasons Woolworths collapsed.

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