Poundland

Today’s news in brief- 30/1/24

Online marketplace Secret Sales has appointed Anthony Farrow as its new Chief Technology Officer. Farrow, with 23 years of experience working with global fashion brands, will focus on advancing AI and emerging technologies to enhance the platform’s efficiency. His role involves implementing serverless architecture, refining search capabilities, and integrating AI-driven…

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Poundland begins transition to new general merchandise ranges

Poundland has confirmed that it has begun a “complete overhaul” of its general merchandise ranges that will see it introduce 2,000 new lines across all its 850-plus stores in the UK and Ireland. The new ranges, powered by parent company Pepco Group, will be the single biggest change in its…

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Today’s news in brief-19/1/24

In December 2023, the Office for National Statistics (ONS) reported a significant 3.2% drop in retail sales volumes in the UK. This decline marked the most substantial monthly decrease since January 2021, following a modest 1.4% increase in November 2023. On an annual basis, sales volumes in 2023 fell by…

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How the Red Sea crisis could impact UK retail

Earlier this month, Next experienced supply chain delays on the Red Sea, citing “difficulties with access to the Suez Canal”. The retailer, along with other big-brand names on the high street like Poundland, fear that it may be one of the main risk factors for the year ahead, alongside the…

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Pepco Q1 revenues hit €1.9bn as it warns on Red Sea disruption

The Pepco Group has posted record Q1 revenues of €1.9bn (£1.63bn) up 10.8% and boosted by new openings. It comes despite group like-for-like (LFL) revenues declined 2.3% in Q1, but with an improving trend during the quarter. Pepco LFL revenue declined 3.7% against a tough comparative period where LFL sales…

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Poundland to begin refurbishing 11 former Wilko stores

Poundland has announced it will begin a major makeover of 11 former Wilko stores in the next few weeks, after acquiring Wilko stores in the administration process. The first former Wilko stores to be refurbished will be located in Leigh, Peterlee and Ammanford, with the work due to be completed…

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Today’s news in brief-12/12/23

Fast-fashion giant Shein is reportedly exploring the possibility of an initial public offering (IPO) on the London Stock Exchange. Chairman Donald Tangmet reportedly met with LSE executives in London to discuss the potential move. The talks are said to have focused on a UK listing, with Shein also considering raising…

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Pepco Group revenues rise 17.7% to €5.6bn in FY23

Poundland owner Pepco Group has reported a 17.7% increase in revenues to €5.6bn (£4.8bn) for the 12 months ended on 30 September.  The revenues were driven by Pepco growth of 24.8% and Poundland Group growth of 8.4%. Underlying EBITDA increased 3.1% to €753m (£646m).  However, underlying pre-tax profit dropped 33.7%…

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Poundland completes 87 new store opening in 70 days

Next Saturday (9 December) Poundland will complete the opening of 87 new stores in just 70 days as new stores open their doors in 10 locations.  Poundland’s biggest-ever single quarterly opening programme has added around 1m square feet of new space as it opened and relocated stores into bigger premises. …

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Today’s news in brief-8/11/23

JD Sports is facing scrutiny over a £3.5m non-compete deal with its former CEO, Peter Cowgill. This agreement, signed in September of the previous year, was intended to prevent Cowgill from working with or advising competitors for the next two years. However, it has come to light that Cowgill has…

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