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Gloucestershire Business News

Tewkesbury Poundland gets cool makeover as festive sales boom

Discount retailer Poundland has revealed a rise in sales the fourth quarter of 2020, as shoppers rushed to buy bargain goods in the run up to Christmas.

Parent company Pepco Group said like-for-like sales had jumped 2.4 per cent across UK Poundland stores, with a strong demand for clothing and homewares.

Poundland and its Dealz chain abroad jointly achieved revenues of £564 million.

It said it had seen good demand for its Pep&Co fashion brand, which is now on sale in 300 stores across the UK.

But wider group like-for-like sales fell 2.1 percent, brought down by a six percent drop at its international chain Pepco which was hit by forced non-essential retailer closures due to the pandemic.

Andy Bond, chief executive of Pepco Group, said: "Our revenue performance clearly signals the strength of each of our retail brands and customer offers and our resilience to short-term Covid disruption.

"We anticipate that the consumer backdrop will remain challenging in the short-term.

"However, with our established growth strategy, centred on significant future store expansion within a structurally advantaged discount retail segment, and strong financial base, we believe that our future growth opportunity is greater than a year ago."

Pepco Group launched its chilled and frozen food ranges in stores last year, with the installation of chiller and freezer cabinets in 119 stores in 2020.

The new chilled and frozen ranges have been developed in partnership with Fultons Foods, a frozen food specialist which in October became part of the group.

Tewkesbury High Street's Poundland had a cool makeover last week in preparation to sell the new products, with further plans to revamp 500 stores over the next two years.

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