High Street

Poundland targets 25 new sites amid wide-ranging price cuts

The planned summer openings range from 1,800 to 12,000 square feet and will jointly employ around 150 full and part-time employees

Poundland has confirmed it is set to open 10 new and relocated stores before the end of September, with up to another 15 in the pipeline by the end of the year.

The new openings stretch from South Wales and southern England to the north of Scotland, and its store plans include high streets, retail parks and the latest sites in the pilot of the new Poundland Local neighbourhood stores.

Stores on track to open between August and September include Sutton Coldfield (Poundland Local); Canterbury, Marshwood Close Retail Park; Sheffield, Meadowhall Retail Park; Milton Keynes, Westcroft Retail Park (relocation); Aberdeen, Trinity Shopping Centre (relocation); Inverness, Telford Street Retail Park; and Broadstairs High Street.

Poundland said that details of locations and timings of further stores will be announced in the coming weeks. The planned summer openings range from 1,800 to 12,000 square feet and will jointly employ around 150 full and part-time employees.

Beyond the summer, up to 15 additional new stores and relocations are in the pipeline between October and December employing over 250 employees. Timings are subject to landlord agreements, planning consents and building works to complete the fit-out.

The latest move comes after Poundland reset stores to lean into its £1 price point and after inflation hit a record 9.4% last month.

Alongside its latest announcement, the group confirmed it will cut the price of a thousand general merchandise items in its 800-plus stores, as well as introduce new low-priced household staples online, to help customers amid the cost-of-living crisis. 

In store, Poundland’s general merchandise price cuts will cover key categories such as gardening, DIY, homewares and kitchenware. Meanwhile, its e-commerce business, Poundshop.com, unveiled its Value Heroes – a range of £1 household staples that “help to beat inflation”. Poundshop.com is also offering an item for one penny each Wednesday while stocks last.

Commercial director, Tim Bettley, said: “We’re acutely aware how important value-for-money is right now for our customers – and that’s why whether it’s across grocery, clothing or homewares, we’re doubling down on our promise of amazing value.”

Chief operating officer, Austin Cooke, added: “The pressure on customers from inflation is real. While we’re serving more shoppers, that’s partly offset by customers being more intentional about what they’re putting in the baskets. That’s why we’re determined to bring more value to more places, in store and through our new online business.”

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