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 – [...]
Quids in: Inside Poundland founder Steve Smith’s £5.7m mansion March 6, 2015 The house comes complete with water feature, although there's no word on whether the Roller is included in the price… (Source: Estates Direct) They say a pound doesn't stretch as far as it once did, but that doesn't seem to be the case for Poundland founder Steve Smith, who has put his Shropshire mansion up [...]
Poundland share price falls as its biggest shareholder sells larger-than-expected stake after 99p Stores acquisition February 11, 2015 Shares in Poundland slid 5.5 per cent to 393.9p this morning after Warburg Pincus, the discount retailer's largest shareholder, sold off 10m more shares than originally planned, after its acquisition of 99p Stores last week. The investor said yesterday it was planning to sell of 25m shares (about £101m worth) – but this morning, it [...]
Poundland agrees conditional deal to buy 99p Stores for £55m February 6, 2015 If you had £55m you could walk into Poundland and fill your boots. Or, you could do what Poundland is considering and buy the 99p Store. For that £55m, enough for 55,555,556 items from its rival, Poundland will get 99p Stores’ 251 branches, which together produce £370.4m in annual sales and serve around two million [...]
Poundland hit by slowdown in new stores January 21, 2015 SHARES in Poundland lost some of their shine yesterday after the company blamed the timing of its expansion programme for the slowdown in third quarter sales. The discount chain, which floated in March last year, said its sales rose 10.2 per cent in the 13 weeks to 28 December, a slowdown on the 15 per [...]
Poundland cashes in on Christmas and posts third quarter success January 21, 2015 The figures Variety store Poundland had a record Christmas trading period in 2014, with success spanning across the whole of the third quarter. During the 13 weeks to 28 December, total growth for the company was 9.8 per cent, with revenue up at £328.4m – a 10.2 per cent increase compared to 2013. The [...]
Poundland wishes you a Merryy Cristmas and a Merry Christmay December 16, 2014 Discount superstar Poundland was snowed under with complaints about its festive products on Twitter yesterday. One unhappy shopper tweeted about a set of Christmas lights which spelt its message wrongly – “‘MerryyCristmas’ it might be a only quid but you could at least spell it right!” Naturally, the hashtag #MerryyCristmas started doing the rounds. [...]
Poundland sits pretty after new make-up launch November 27, 2014 THE ECONOMY may be improving, but Poundland’s booming popularity is proof shoppers are sticking to recession-born habits of seeking out a bargain, the company said as it posted a jump in first-half profits. The value retailer enjoyed a 34.2 per cent rise in pre-tax profits to £12.6m in the six months to 28 September, beating [...]
Poundland’s quids in with 11.7 per cent rise in profits November 27, 2014 Shares in discount retailer Poundland edged 3.7 per cent higher to just under 314p after it posted a 11.7 per cent rise in pre-tax profits, which hit £9.3m in the six months to the end of September. Sales rose 15 per cent to £528.2m, while net debt fell 83 per cent to £4.4m, as it [...]
Shapland is named Poundland chair in retail merry-go-round July 29, 2014 Poundland yesterday named Darren Shapland as its new chairman after losing its current boss to the troubled supermarket Morrisons in the latest round of retail musical chairs. Shapland joined the bargain chain’s board as a senior independent director ahead of its £750m float in March after a brief stint as chief executive of the flooring [...]