Poundland parent company PepCo has reported an uplift in first-quarter revenue boosted by the introduction of new price points and product lines.
PepCo, which trades under the Poundland fascia in the UK and the PepCo and Dealz fascias in Europe, posted a 5.5% rise in like-for-like sales in the quarter to December 31, 2020.
Poundland, which qualified as an essential retailer and was therefore able to trade from its stores during lockdown, reported a 4.3% rise in like-for-like sales during the period despite significantly reduced footfall to its stores, which are primarily located on high streets.
The retailer said this growth is “likely to have resulted in market share gains in the UK, providing further evidence of the successful change programme the Poundland brand is undertaking”.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.