Poundland to expand as recession hits pockets
Friday 19th December 2008, 4:28PM GMT.
Poundland is to open 35 new stores in 2009 creating 1,200 new jobs.
In 2008 it opened 40 new shops, and the expansion next year will see it have 240 stores.
The growth in the store – offering everything unsurprisingly for £1 – has been put down to the threat of recession and recent rises to the cost of living meaning consumers are not increasingly price sensitive.
“Times are tough and customers know Poundland offers quality brands at the incredible £1 price point on all products,” said Jim McCarthy, the firm’s chief executive.
“We are convinced that Poundland will become the shoppers’ saviour in even more locations over the next few difficult months.”
The store now records two million customers a week.
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