Poundworld's200th store opens its doors

VALUE retailer Poundworld is celebrating the opening of its 200th store.

The shop at Newbury Retail Park in Berkshire is the 44th to open this year.

The Yorkshire business claims to be the country’s fastest-growing single-price retailer.

It has created 1,000 jobs in the year to date through national expansion.

Poundworld, which is owned by the Edwards family, said it plans to open another 250 stores over the next five years, which will create more than 10,000 jobs.

The company added: “It is estimated that between 150 and 250 of the jobs created will be based in Yorkshire, and will include positions in retail, distribution and various roles at the head office in Normanton, Wakefield.”

Managing director Chris Edwards senior founded the company in 1997. His son, also named Chris, is the trading director.

Mr Edwards junior said: “After 15 years of offering great choice, brands and deals, we are delighted to have reached the milestone of 200 stores.

“We now serve over 1.5 million customers a week and we are recognised as one of the UK’s leading discounters.”

He added: “The past couple of years have seen an exciting period of growth for us with the launch of two new consumer brands, Discount UK and Poundworld Express, as well as the introduction of our new wholesale website Discountwholesale.co.uk earlier this year.

“We hope to build on this positive growth by opening a further 250 stores by the end of 2017 and we look forward to welcoming even more cost-conscious shoppers through our doors.”

Poundworld has five stores in Leeds at Crowne Point Retail Park, the Merrion Centre, Kirkstall Road, Kirkgate and Crossgates.

In an interview last year, the company directors said the Discount UK multi-price store was filling the gap left by the demise of Woolworths.

The company describes Discount UK as an “up-to-date Woolies, with a vibrant look and more choice and value”.

Mr Edwards junior said: “People want real value – we know this from the millions of customers we serve in Poundworld, and Discount UK can deliver excellent value for money on over 500 products ranging from 28p up to £25.”

New store openings boosted Poundworld’s turnover by 42 per cent to £132.9m, according to figures for the year to March 2011.

Pre-tax profit rose by more than 400 per cent to £5.2m. The gross profit margin in 2011 was 40 per cent.

Poundworld’s shelves are stocked with more than 3,500 individually-sourced product lines.

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One Response to Poundworld's200th store opens its doors

  1. nik says:

    why do poundworld even though they have a big sign saying “everythings £1” have several items in the store that cost £7.99, £2.99 and £3 ??

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