Poundstretcher improves performance

Discounter reports sales increase
January 14 2003
Discount chain Poundstretcher improved its trading over the Christmas period.

Parent company Brown & Jackson has reported that total sales at the 330-strong Poundstretcher chain were up 4 per cent in the 7 weeks ending January 11.
Like-for-like sales increased by 2.9 per cent, margins in line with forecasts, and stock levels “significantly lower than the previous year.”
In the half year ending December 28 total sales at Poundstretcher, which is now run by former Matalan chief executive Angus Munro, increased by 2.7 per cent, with like-for-like sales growth of 0.8 per cent.

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