UK discount retailer Poundland saw an increase in like-for-likes sales over the festive period as consumers continued to look for value for money on the high street.
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For the five weeks ending 3 January, the retailer recorded an increase in like-for-like sales of 4.4%. Total sales (including new stores) for the period were up 34.8% year on year.
Poundland also announced that it will offer permanent employment to 360 temporary workers who were recruited during the busy Christmas period. The budget retailer plans to open eight stores before the end of March, creating 250 jobs.
Chief executive Jim McCarthy (pictured) said: “The increase in shoppers over Christmas 2009 is yet more proof that Poundland continues to offer both quality and value. With more and more customers spreading the weekly shop across several stores to help their budget stretch further, we are confident that sales will continue to reflect this customer trend throughout 2010 and beyond.”
Poundland operates from 254 stores nationwide and estimates that it serves over 2.5m customers every week.
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By GlobalData
