// Poundland Christmas sales rise thanks to Pep&Co clothing concessions
// Total sales reached £463.1 million
Poundland has seen its Christmas sales rise thanks to its Pep&Co clothing concessions helping drive footfall.
In the three months ending December, the discount retailer’s like for likes advanced 1.3 per cent.
Poundland enjoyed its “record trading day” on December 23, Pepco Group said, as it served almost 1.6 million customers.
- £3.8bn takeover of Poundland owner Pepco Group on the cards
- Poundland rolls out simple pricing offer nationwide
Pepco Group, which also owns the Pepco and Dealz fascias in mainland Europe, said Poundland’s revenues were driven by the “introduction of extended product ranges at price points above and below the £1 anchor price point”.
The Poundland and Dealz businesses combined generated a 3.1 per cent increase in total sales during the period to €546 million (£463.1 million).
Sales across Pepco jumped 6.6 per cent in like-for-like terms and 24.6 per cent on a total basis to €597 million (£498 million) during the period.
“With an established strategy, leading customer proposition within a structurally advantaged discount retail segment and a strong financial base, we remain confident about our prospects for continued growth across Europe in the balance of the financial year and beyond,” Pepco Group chief executive Andy Bond said.
Earlier this week, Poundland’s former owner, Advent International teamed up with private equity firms Hellman & Friedman and Mid Europa Partners for a planned takeover that could value Pepco Group at over €4.5 billion (£3.8 billion).
The interest shown from the Advent-led consortium in a takeover of Pepco Group provides an alternative to an IPO, which Steinhoff International, the current owner, has been exploring for months.