Poundland faces profit plunge after delayed takeover of 99p Stores last September June 12, 2016 Discount retailer Poundland might need a few quid as it braces for a plunge in profits this week. The company’s full-year results have been dragged down by its delayed takeover of high-street rival 99p Stores. Earnings per share are forecast to fall almost 43 per cent, from 15.01p to 8.58p per share, when the company [...]
Poundland says it is on track to meet profit expectations despite accelerating like-for-like sales fall April 14, 2016 Poundland believes it is on track to meet profit expectations despite its like-for-like sales fall accelerating. The figures In the year to 27 March 2016, like-for-like sales decreased by 3.9 per cent. The fall was steeper – 4.9 per cent – in the second half of the year. In the fourth quarter, Poundland reported a sales [...]
Poundland appoints Kevin O’Byrne as chief executive as Jim McCarthy retires March 2, 2016 Poundland has appointed former B&Q boss Kevin O'Byrne as chief executive, replacing Jim McCarthy who will retire after 10 years in the role. O'Byrne will initially join as chief executive designate from 4 April, taking on the full reins on 1 July. McCarthy will remain available to the board until he retires at Poundland's AGM in September. [...]
Poundland’s share price soars as discount retailer gets greenlight for 99p Stores takeover August 25, 2015 Poundland's acquisition of (more) budget rival 99p Stores has been given the provisional go-ahead by the competition watchdog, sending the listed company's share price soaring. The Competition and Markets Authority this morning said the merger “may not be expected to result in a substantial lessening of competition”. It said: "Along with Poundworld, [...]
B&M eyes more stores as sales jump by a third May 28, 2015 Bargain retail chain B&M has hiked its store expansion targets after reporting a near 30 per cent jump in revenue in its first year as a public company. The company, which sells everything from toys to electrical goods and furniture, yesterday said sales jumped 29.5 per cent to £1.6bn in the year to 28 March, [...]
Poundland agrees to probe by authorities into 99p Stores deal May 6, 2015 POUNDLAND said yesterday it has agreed to proceed with a full-scale investigation by the competition watchdog over its proposed £55m tie-up with 99p Stores. The bargain chain said last month that it was considering whether to continue to pursue the deal or walk away after the Competition and Markets Authority (CMA) raise concerns over 92 [...]
Poundland brings forward competition probe into 99p Stores deal May 6, 2015 Bargain store Poundland has bought forward a competition probe into its offer to buy rival 99p Stores for £55m. The Competition and Markets Authority (CMA) previously said the tie-up could create "a realistic prospect of less competition" in 80 local areas – and an additional 12 areas where they will be competitors in the near future. It said [...]
Poundland eyes extension over 99p Stores deal probe April 14, 2015 Poundland is expected to ask for an extension tomorrow over its decision on whether to walk away from its £55m tie-up with 99p Stores or proceed with a full-scale probe by the competition watchdog. The Competition and Markets Authority (CMA) said last week that it had concerns over 92 areas where it believes there could [...]
Poundland faces competition probe over 99p Stores tie-up April 9, 2015 POUNDLAND’S offer to buy rival 99p Stores for £55m is facing an in-depth investigation by the competition watchdog, amid concerns reduced competition will lead to fewer promotions and store closures. The Competition and Markets Authority (CMA) warned that it could launch a 24-week in-depth probe unless Poundland “offers acceptable undertakings to address the CMA’s competition [...]
Poundland-99p Stores tie-up threatened by Competition and Markets Authority April 9, 2015 Poundland's offer to buy rival 99p Stores for £55m is facing an in-depth investigation by the competition watchdog, amid concerns reduced competition will lead to reduced quality, fewer promotions and store closures. The Competition and Markets Authority (CMA) said it believes the tie-up could create "a realistic prospect of less competition" in 80 local areas – [...]