Everyone loves a bargain, and Poundland has plenty of those on offer. But after recording an increase in sales this year, the company now plans to grow its property portfolio and increase its presence on the high street.
Poundland currently has 500 stores located throughout the country. However thanks to a sharp increase in annual sales, they now want to double this figure and potentially move into the European market.
Speaking of the great year so far, Poundland’s CEO, Jim McCarthy, said: “This has been a year of tremendous progress for Poundland. Our single price point and our amazing value are appealing to an increasingly broad section of UK shoppers.
“We opened a net 51 new stores in the year and that rate of growth has continued into the current year. I’m confident that over time Poundland will have over 1,000 stores across the UK.”
Poundland has opened 51 shops already this year, which created 1700 jobs. The company is planning to open at least another 50 stores in the remaining months of 2013, with hopes of welcoming 500,000 new customers.
Poundland is also in talks regarding an IPO for next year, but a decision has yet to be made about the flotation.
Not everyone is a fan of Poundland and its products, but surely having one occupy an empty commercial property on your high street has to be better than looking at a boarded up shop.
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