Poundstretcher
This coverage examines Poundstretcher’s operations and strategy in the UK retail market, offering insights for executives, managers, and brand professionals. Reporting includes store openings and closures, restructuring efforts, leadership changes, marketing campaigns, and the brand’s positioning in the value and discount retail sector. The analysis helps professionals assess Poundstretcher’s growth plans, competitive approach, and challenges in a price-sensitive market.
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Dec- 2021 -3 DecemberHigh Street
Poundstretcher rewards staff with 10% pay increase
Discount chain Poundstretcher has announced it is rewarding all of its employees in “recognition of their hard work” throughout the pandemic, as well as the company’s restructuring in 2020 with a 10% pay increase. It revealed that from 1 January 2022, all employees who have completed a year’s full service…
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Oct- 2021 -14 OctoberHigh Street
Poundstretcher prepares for branded price rises
The CEO of Poundstretcher has warned that some of the retailer’s product prices are set to rise in the run-up to Christmas, but has pledged to “absorb some of the potential cost rises” from big brands including Coca Cola, Fox’s, Kellogg’s and Heinz. Aziz Tayub said: “We do not see…
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Sep- 2021 -8 SeptemberSupermarkets
Poundstretcher returns to profit in FY21
Discount retailer Poundstretcher has reported a swing to £30m pre-tax profits in FY21, up from losses of £49.5m the previous year. The group also revealed an unaudited EBITDA of £46.7m for the year ended 31 March 2021, as a direct result of an earlier restructuring. 2020 saw Poundstretcher enter a…
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Oct- 2020 -16 OctoberHigh Street
Poundstretcher to open 50 new stores despite CVA plans
Poundstretcher is reportedly preparing to open 50 new stores in 2021, despite CVA proposals that have resulted in 50 store closures since early July. According to a company poster, Poundstretcher is looking for dozens of new sites to open next year, ranging from existing shop units to development sites in…
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Jun- 2020 -12 JuneCoronavirus
Poundstretcher faces CVA, 5,500 jobs at risk
Poundstretcher is facing a risk of closure across the majority of its estate, following news it is launching a CVA in a bid to seek rent cuts from its landlords. According to Sky News, the discount retailer has initiated a “radical” restructuring programme that will seek to cut rents at…
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Dec- 2018 -11 DecemberHigh Street
Poundstretcher posts profit decline
Discount retailer Poundstretcher overall profits for the financial year ending 31 March 2018 fell to £1.7m compared with the previous year’s figure of £2.1m. Its profit before tax dropped from £2.7m to £2.1m over the same period. The company’s turnover dipped to £387.4m compared with the previous year’s figure of…
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Jun- 2018 -6 JuneEconomy
Poundworld buyer pulls out
The future of discount retailer Poundworld has been cast into doubt following Alteri Investors withdrawal from their buyout. Other bidders are queuing up however with founder Chris Edwards rumoured to be considering re-acquiring the 355-store chain. He sold the chain to TPG for £150m and then took over at rivals…
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Jan- 2018 -4 JanuaryUncategorized
Poundstretcher fined £1m for Health & Safety Breaches
Poundstretcher has been fined £1m for violating health and safety regulations at three of its stores. Following three separate investigations, Poundstretcher in Trident Business Park, Leeds Road, Huddersfield, was convicted for a series of breaches of the Health and Safety at Work etc Act 1974. The counts, which included…
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