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Gloucestershire Business News

Not all Poundland products are £1

Around a tenth of Poundland products are no longer priced at £1, according to the discount retailer.

The retailer, which has stores in Cheltenham, Gloucester, Cirencester, Stroud and Tewkesbury, first moved away from pricing everything at £1 in 2017, as reported by the BBC.

Poundland products are now priced between 50p and £10 to compete with retailers like B&M and Wilko.

Owner Pepco said sales have continued to grow over the last six months, despite the pandemic.

Poundland and its European sister firm Dealz saw like-for-like sales increase by 1.4 per cent in the six months to 31st March.

While most Poundland stores stayed open during lockdown, the company said that some shoppers were nervous of going to high streets and shopping centres where they felt the risk of infection was higher.

But Pepco has confidence in the future for Poundland, saying that discounting always thrives following an economic crisis.

Pepco said total revenue across the business was up 4.4% to £1.7bn (€2bn), with pre-tax profits in the period up from £55m (€64m) to £36.66m (€96m).

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