Poundland sees strong sales as cost crunch fuels demand
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Owner Pepco said Poundland sales rose 2% on a like-for-like basis over its third quarter to June 30, with revenues up 3.8% at 507 million euros. The group’s continued focus on reducing the cost of operations is enabling us to maintain our price leadership Pepco It said: “With inflationary pressures continuing across the wider market, the group is committed to investing in its price proposition and maintaining its market-leading variety discount offering. “Against this backdrop, we are encouraged that the discount market across Europe is now much larger than at the time of the previous financial crisis in 2007-08, which means that a much larger customer base is more familiar with and more frequently shops across this channel.” Its results show total group-wide sales lifted 4.9% on a like-for-like basis to 1.2 billion euros over the quarter, with growth driven by Pepco, where sales jumped 7.3%.
History of this topic
Poundland revenue lags after taking on former Wilko stores
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Poundland group ‘cautiously optimistic’ despite profits slump
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Poundland owner Pepco cuts outlook in ‘increasingly challenging’ environment
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More than half of items in budget store don't cost a pound
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Poundland chief reveals soaring supply chain costs
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Poundland is no longer a pound shop as it ditches £1 price promise
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