THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
The Papers
Retail Solutions
Food & Drink
Interviews
Property
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Poundworld sales up 55%

Poundworld saw its sales increase by 55% to £206.5 million in the year to 31 March as the single price retailer followed a “judicious” store expansion programme.

GENERAL MERCHANDISE

Poundworld sales up 55%

Poundworld saw its sales increase by 55% to £206.5 million in the year to 31 March as the single price retailer followed a “judicious” store expansion programme.

The company, which also operates Discount UK, now has 200 stores in the UK and plans to increase this number to 260 outlets by 2014 thereby creating 1,800 jobs. It will also continue to open more Discount UK stores in the coming year.

Poundworld’s operating profit before exceptional items rose by 14% to £4.7 million but pre-tax profit fell from £3.9 million to £2.8 million.

In the company’s accounts, Poundworld’s directors said: "Against a backdrop of continuing economic uncertainty the retailing environment in the UK remains challenging, but also presents an opportunity to acquire individual sites or bundles of stores on favourable terms.

"Management is confident that the ongoing store expansion programme will deliver significant cash and profit benefits to the business, but in the short term, performance has been adversely affected as stores have opened outside of the peak trading period.

"The benefit from these stores should be seen in next year’s results."

Poundworld said it also plans to continue the trial of its new convenience format Poundworld Express.

 

 


Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Conference
The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
The 11th HR Summit 2019, Hallam Conference Centre, 44 Hallam St, Marylebone, London W1W 6JJ
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy