Poundland sold for just £1 and handed war chest to lead recovery Retail Poundland has been sold for just £1 to investment giant Gordon Brothers in a deal which will provide the discount retailer with a £80m war chest to turn around its fortunes. Pepco Group has entered into a definitive agreement with Gordon Brothers to sell Poundland which will continue to be led by chief executive Barry [...]
B&M: FTSE 250 shares plunge as profit and job cuts revealed Retail Shares in B&M have plunged by more than ten per cent after the retailer revealed a lower profit, rising debt and job cuts. The Liverpool-headquartered company, which is a member of the FTSE 250 index, reported a pre-tax profit of £431m for the 12 months to 29 March, 2025, down from the £498m it achieved [...]
Aldi to create 1,600 new jobs and expand as supermarket rivals cut Retail Discount grocer Aldi is set to create 1,600 new roles this year as it expands its store presence in the UK, while its rivals slash jobs. The announcement stands in marked contrast to news of 3,000 jobs cuts at Sainsbury’s, and small reductions in staff numbers at Tesco’s and Morrisons. All three supermarkets have attributed [...]
Poundland owner Pepco vows to turn around discount retailer as sales fall January 16, 2025 The owner of Poundland has vowed to get the discount retailer back on track after its performance dragged on the wider Pepco Group. In the first quarter of its financial year, the final three months of 2024, Poundland’s sales totalled €563m (£474.5m), down 9.3 per cent year on year on a constant currency basis. That [...]
Brits buy 50m Aldi mince pies as budget grocer hails ‘best Christmas ever’ January 6, 2025 Aldi has recorded its best festive season ever in 2024, with sales topping £1.6bn in the month before Christmas. Sales at the grocer grew 3.4 per cent year on year, while its seasonal offering rose 10 per cent and its premium range jumped by 12 per cent compared to 2023. Aldi UK’s chief executive officer, [...]