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Poundland 'to create 2,000 jobs'

Discount retailer Poundland says it plans to open at least 50 new stores in a move to create up to 2,000 jobs.

The firm - which sells everything for £1 and has around three million customers a week - said its "impressive growth" would help it create jobs in a fragile UK recovery.

Operating profits rose 81% to £21.5 million in the year to March 28, it added. The firm opened 56 stores during the period.

Poundland, which is based in Willenhall, West Midlands, currently employs over 7,500 staff and has 263 stores nationwide.

New stores have opened in Northern Ireland and now two more will open in Dungannon and Peterborough.

Chief executive Jim McCarthy said: "Market research shows the UK will take 800 Poundland stores, so we have several more years of growing."

He added: "We get an immediate response when we open a new store and by taking a lower margin than most retailers we build on value rather than profit.

"The standard of the displays in store and the service is much better than people anticipate."

The company - which was bought by private equity firm Warburg Pincus in June - sells items ranging from household products and food to health and beauty items.

Poundland's top sellers include Kodak batteries, Maltesers and Johnson & Johnson cotton buds.


From Belfast Telegraph