Poundland’s quest for a store on every high street continues

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15 March 2010 - Poundland, Europe’s biggest single price discount retailer, has announced the opening of at least 50 new stores in the UK in the next financial year 2010/2011, creating more than 2,000 jobs.

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Over 50 new stores and over 2,000 jobs announced for 2010 / 2011

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Poundland, which currently has 261 stores across the UK, continues to forge ahead with ambitious expansion plans following an incredible 61 new store openings during 2009/2010.

Stores will open throughout the UK with an average sales area in excess of 6,000 square feet. Some larger store formats are also planned.

The retailer has committed to opening at least six new stores in Northern Ireland by July 2010, bringing the total to 15, after the successful launch last year. From the end of March Poundland will accept both Sterling and Euros in all its Northern Ireland stores and expects this additional method of payment to be welcomed by both existing and new customers. Capital investment in new stores is expected to be around £10 million for the retailer which sells every item at the amazing value price point of £1.

Poundland enjoyed an incredible 2009, with huge demand for its extensive range of general merchandise together with around 1,000 branded products including Walkers, Cadbury, Tetley, Colgate, Kodak, Vanish and Johnson & Johnson. The business achieved excellent results for the year ending March 2009 and reported strong Xmas 2009 trading results thanks to the ever-growing selection of amazing value general merchandise, branded product, exciting seasonal ranges and special deals, all at the £1 price point that consumers love.

Chief Executive Jim McCarthy commented: “Poundland had an impressive year in 2009, opening even more stores than planned, and we are looking forward to further substantial growth this year. Our rapid expansion is a reflection of the irresistible Poundland shopping experience and the great support our valued customers give us. We look forward to creating over 2,000 jobs and welcoming many more savvy customers in new locations in 2010.”