 Logo used since 2024. | |
| Company type | Private |
|---|---|
| Industry | Retail |
| Founded | April 1990 |
| Founders | Dave Dodd and Steven Smith |
| Headquarters | Walsall, West Midlands, England |
Number of locations | 896 (2016)[1] |
Key people | Andy Bond (CEO) |
| Products | Groceries, consumer goods, DIY, electrical |
| Revenue | £1.31 billion (2016)[2] |
| £56.9 million (2016)[2] | |
| £12.0 million (2016)[2] | |
| Owner | Pepco Group |
Number of employees | 18,000 (2016)[1] |
| Website | www |
Poundland Limited is a British variety store chain founded in 1990. It once sold most items at the single price of £1, including clearance items and proprietary brands. The first pilot store opened in December 1990 following numerous rejections by landlords who had reservations about allowing a single-price store to operate, fearing it could adversely affect the local competition. An estimated 7 million customers shopped in Poundland every week in 2016, many being female shoppers in the C1, C2, D and E categories[3] (the working classes in a system of demographic classification used in the United Kingdom). Following a drop in share price of over 50%, Poundland was acquired in August 2016 by Steinhoff International for £610 million.
The retailer expanded into other European countries during the latter half of 2011, first opening a store in Ireland and later operating a subsidiary chain of discount stores in mainland Europe under the name Dealz, many of which have since been transformed into Pepco stores. Poundland acquired closest rival 99p Stores in 2015,[4] which left Poundworld as their closest competitor until it went bankrupt in 2018,[5] leaving Poundland as the category killer of the pound shop format.
- ^ a b "Poundland Group PLC, Companies House". Companies House. Retrieved 8 January 2017.
- ^ a b c "Poundland Annual Reports and Financial Statement 2016" (PDF). Steinhoff International. March 2016. Retrieved 9 January 2017.
- ^ Hennessy, Mark (15 November 2013). "Poundland profits as thrifty shoppers look after pennies". The Irish Times. Retrieved 16 May 2020.
- ^ "Poundland's £55m merger with rival, 99p Stores approved". BBC News. 18 September 2015. Retrieved 9 October 2020.
- ^ "Poundworld files for bankruptcy". Financial Times. 11 June 2018. Archived from the original on 11 December 2022. Retrieved 9 October 2020.