Poundland boss Austin Cooke has claimed there is “plenty of positivity” on the high street, as he reported strong trading at the former Wilko stores it has converted.
The managing director said there had been an “amazing” response to the newly launched Poundland stores from shoppers, despite noting times were “tricky”.
The retailer bought 71 former Wilko stores in September following the collapse of the value chain.
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Cooke said: “You can’t deny times are tricky for many and the cost-of-living situation is having an impact, but it just gives us more reason to give outstanding value.
“Every time we have opened a new store, we see that. People are really chuffed we are opening in their towns.”
He continued: “We saw an opportunity there to accelerate openings and are really happy with how it has gone.”
Poundland has opened 64 former Wilko shops under its branding so far and hired over 1,000 former Wilko workers.
The retail giant has also launched an additional 23 shops to those it snapped up from Wilko’s administrators in the last two months and is planning further openings next year.
Earlier this month, Poundland owner Pepco Group posted “disappointing” profits, despite seeing a record full year revenue of £4.8bn in the year to 30 September.
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