Poundland is said to be “on track” with its growth strategy to open at least 60 new stores together with a new south-eastern distribution centre in the current financial year.
In the process, the company will create up to 2,000 new jobs. So far this year 22 new stores have already opened, including four in the Republic of Ireland. In April, Poundland achieved another milestone by opening its 400th store in Haringey, London.
The new 200,000sq ft south-eastern distribution centre will open in August at Hoddesdon, Hertfordshire. The warehouse supports Poundland’s growth strategy and will be used as a regional facility to service its stores throughout southern England.
Jim McCarthy, Poundland’s chief executive, said: “Poundland continues to offer amazing value to over four million customers every week. Our strong sales and volume increases demonstrate that customers recognise the exceptional value for money that Poundland offers.
“Our fixed price makes it easy for families to budget as they can see how much they’ve spent, before they get to the checkout. We are excited about the year ahead as we continue our rapid expansion and hope even more customers, across the UK will be saying ‘I can’t believe it’s £1!’”
Poundland today announced results for the 53 weeks ending 1 April. Turnover was up 21.6% at £780m, with like-for-likes growing at 2.3%. More than four million customers were served every week, compared to 3.5 million in the previous year.