LANDED ON ITS FEET
A new focus on fashion has helped budget chain Poundland shrug off the high street blues that are blighting rivals.
The firm is introducing its Pep&Co fashion outlets to 300 stores and the move has helped it achieve “strong” sales growth.
Parent firm Pepkor Europe said the sparkling performance of its 840 Poundland stores boosted the company with a 12.9% sales surge to £705million in the last three months.
Boss Andy Bond gave assurances that Poundland and Pep&Co were “financially strong” as the retailer attempted to distance itself from troubles at its South African owner Steinhoff.
Steinhoff was plunged into one of South Africa’s biggest corporate scandals last year after accounting irregularities were revealed.