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Sign of the times as Poundland plots massive UK and Europe expansion
by cityam
POUNDLAND owner Pepco has plans to roll out 550 more sites this year across the UK and Europe as its cheap and cheerful goods continue to perform well with customers amidst the cost of living crisis.
In its interim results, the value shop, which sells everything from groceries to clothes, posted a 22.8 per cent jump in revenues of €2.83bn (£2.44bn) up from €2.37bn (£2.04bn) in the six months to March.
As food inflation reached its second-highest levels on record during the quarter, Poundland reported an increased demand in its value chilled and frozen ranges, as shoppers looked to stock up and cut back on waste.
The brand, which has 756 stores across the UK, did however report a 5.7 per cent drop in profit before tax of €134m (£115m), which it said reflected investment in new stores, supply chain costs and inflation.
The 50 new stores across the UK,
