Page last updated at 09:41 GMT, Monday, 12 January 2009

Downturn boosts Poundland sales

Poundland store
Poundland plans to expand in the downturn

Bargain firm Poundland posted a rise in sales in December, as consumers sought to limit their spending in the wake of the economic downturn.

Same-store sales during the five weeks to 4 January rose 3.9% year-on-year. Sales during the period including new store openings rose 24.3%.

The chain, based in the West Midlands, plans on "significant" growth in 2009, creating 30 new stores and 1,000 jobs.

Private equity company Advent International has owned it since 2002.

"We are well positioned to capitalise on the continuing strong customers trend to shop savvy and seek value for money," said chief executive Jim McCarthy.

More expensive retailers have been losing out to their cheaper rivals as consumers have sought ways to cut their spending.



Print Sponsor


RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC iD

Sign in

BBC navigation

Copyright © 2020 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific