Poundland sales close in on £1bn
a) It is very likely they'll expand across the country.
b) They've got £1bn in pound coins, so we might see the owner up The Asda putting truckloads of quids into those Coinstar machines.
Last year, Poundland made £880.5m in total sales, but this year, that has risen to £997m, which is a terrific amount of money for a shop selling Super Noodles, black socks, plant pots and one pound dildos (no, seriously).
The company already opened 70 new stores in the UK in the year, which means there are now 528 places to buy cheapo stuff. If the success continues, we should really consider dropping the 'Eng' from England and handing ourselves over to our new quid-obsessed overlords.
Poundland chief exec - Jim McCarthy- told the BBC that their research suggests that they could open 1,400 new stores across the country but "internally we use 1,000. It's a nice round number." He added that he wasn't too fussed about the firm's successes in light of the country's recovering economy, saying that, even though it seems counter intuitive, "Poundland and other discount retailers do better as consumer confidence improves".
Andrew Higginson, chairman of Poundland, added: "I expect that Poundland will continue to benefit from its strong trading platform, its universal appeal and the structural change in consumers' shopping behaviour."
In other news, in what seems like a tremendously perfect fit, Poundland opened its first store in Torremolinos on Wednesday and plans a Spanish invasion over the coming months, presumably keeping an eye on the resorts. We can only hope that a Greggs opens up next door, for those Brits who miss home too much.
TOPICS: High Street News