Poundland records festive sales uptick

Poundland

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”.

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