Poundland reports record year October 13, 2011 Poundland, Europe’s biggest single price discount retailer, posted a record year of sales and profit as it continued to prosper in the economic downturn. The firm, which trades from over 360 UK stores, said yesterday underlying earnings before interest, tax, depreciation and amortisation increased 34 per cent to £31.7m in the year to 27 March. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 1, 2011 FINANCIAL TIMES FOXCONN LOOKS TO AN AUTOMATED FUTURE WITH 1M ROBOTS BY 2013 Foxconn, the world’s largest contract electronics manufacturer by revenue, plans to have as many robots as workers in its China factories within three years, according to Terry Gou, chairman and chief executive. Foxconn, China’s biggest employer, produced Apple’s iPad and other electronic [...]
Poundland set for expansion as bargain hunters give it a boost August 18, 2010 DISCOUNT retailer Poundland has seen an 80 per cent surge in operating profit to £21.5m in the year to the end of March. Poundland, which was recently acquired by private equity firm Warburg Pincus, said it aims to open a further 50 new stores over the next two years, creating 2,000 jobs. Like-for-like sales were [...]
Poundland set for expansion as bargain hunters give it a boost August 18, 2010 DISCOUNT retailer Poundland has seen an 80 per cent surge in operating profit to £21.5m in the year to the end of March. Poundland, which was recently acquired by private equity firm Warburg Pincus, said it aims to open a further 50 new stores over the next two years, creating 2,000 jobs. Like-for-like sales were [...]
Close Brothers arm renamed May 10, 2010 CLOSE Brothers Corporate Finance has been renamed as DC Advisory Partners after being taken over by Japan’s Daiwa in July last year. The firm, which has over 200 staff, plans to open more offices in Europe this year as part of a growth drive in M&A, distressed investment, restructuring and debt advisory services. DC Advisory [...]
Poundland bought for £200m May 5, 2010 Discount retailer Poundland has been sold to US private equity firm Warburg Pincus. The chain, based in Willenhall in the West Midlands, and Europe’s largest single priced discount retailer is expected to make sales of £700m by 2011. The company, founded in 1990, has 260 outlets across the UK. Its current owner, the rival buyout [...]
Warburg Pincus buys Poundland May 3, 2010 US-based private equity group Warburg Pincus is today set to announce the buyout of the discount retailer Poundland. Pound shops such as Poundland, which sells all products for £1, have been a winner with UK consumers counting pennies during the recession.
Boss eats his words as DFS agrees a sale April 22, 2010 LORD Kirkham, the founder of the DFS sofa chain, is set for a big payday after agreeing a deal to sell the retailer to private equity firm Advent International for an estimated £500m. The move is a stark U-turn for Kirkham, who only last month said he was “categorically not interested in selling the business” [...]
NEWS | IN BRIEF March 11, 2010 Advent International, the private equity owner of Poundland, the discount retailer that sells all products for £1 or less, has hired advisers to prepare for a possible sale. Pound stores have done well during the recession, attracting cash-strapped shoppers. Advent bought Poundland for about £50m in 2002. Close Brothers is advising Poundland on its strategic [...]
Co-op’s Christmas price war fuels sales January 11, 2010 THE Co-operative Group’s like-for-like sales rose almost five per cent after slashing prices in a battle with its rivals over Christmas. The UK’s fifth biggest food retailer – which now has 3,000 stores after buying Somerfield last year – was boosted by a massive advertising campaign and overhaul of brands. Like-for-like sales – including VAT [...]