Major Update on Future of Poundland After Revenue Tanks by £57,000,000

Poundland AXES key loyalty scheme feature in shake-up amid store closure risk

Reuters POUNDLAND has made a major change to its loyalty scheme as it launches a cost-cutting shake-up. The discount store has scrapped its exclusive lower prices for Poundland Perk members, which had worked similarly to Tesco’s Clubcard offers. AlamyPoundland has been struggling in recent months and could close up to 200 stores[/caption] It comes as the troubled discount chain is being sold off by owner Pepco and up to 200 stores could face clo…

Major update on future of Poundland after revenue tanks by £57,000,000

Up to 200 stores and thousands of jobs are reportedly at risk (Picture: Dinendra Haria/LNP/REX/Shutterstock) Poundland’s parent company has said it expects to sell the discount chain by September after a fall of over £57 million in revenue in one year. Up to 200 stores and thousands of jobs are reportedly at risk from the sale, which owner Pepco Group said would not generate ‘major proceeds’. The firm, which has owned Poundland since 2016, warne…

Fears for 200 branches of Poundland as whole chain to be sold 'this summer' - The Mirror

Pepco has announced all 818 branches are up for sale and there are fears a quarter of them will close

Pepco Expects To Offload Poundland By September As Sales Continue To Fall

Alongside its interim results today, Pepco Group confirmed that it plans to separate off its struggling Poundland business by September after another period of weak performance. It also warned investors not to expect “major proceeds” from any sale, with the (more…) The post Pepco Expects To Offload Poundland By September As Sales Continue To Fall appeared first on KamCity.

Poundland slashes guidance as H1 sales worsen

Pepco Group, the owner of Poundland, has slashed its full-year guidance for the discount chain as trading remained “challenging” in the first half of the year. Poundland is now expected to deliver underlying EBITDA of around €0m to €20m (£0 – £17m) in FY25, compared with previous guidance of €50m to €70m (£42m – £59m).  Pepco said the downgrade follows “highly challenging trading conditions”, which were further impacted by clearance of old stock…

Poundland slashes profit guidance ahead of sale - Retail Gazette

Poundland owner Pepco Group has cut its profit guidance for the British discount chain as sales continues to fall ahead of a possible sale. The retailer is expected to deliver an underlying EBITDA of between £0m and £16.8m (€20m), compared to the previous guidance of £42.1m (€50m) to £59m (€70m). It blamed the downgrade on “highly challenging trading conditions, which have been further impacted by clearance of old stock and product availability …