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Discount Retail
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Lidl records best ever festive trading period

Wednesday 11 January 2017 - Posted by Elias Jahshan

Lidl achieved record sales over the Christmas period thanks to customers shelling out on lobster purchases. The German grocery chain said sales went up by 10 per cent in December, making it the retailer’s best Christmas trading period – although not as good as its closest riva...

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B&M warns of price rise in spring despite 7.2% sales boost

Wednesday 04 January 2017 - Posted by Elias Jahshan

A record Christmas helped B&M achieve a big rise in sales in the third quarter as it flagged a period of "uncertainty" for consumers. Like-for-like sales at the discount retailer went up by 7.2 per cent in the three months to December 24, while revenue shot up by over 20 per c...

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Poundland launches first sales event with 50p items

Tuesday 03 January 2017 - Posted by Elias Jahshan

Discount retailer Poundland has launched its first-ever sales event, slashing the price of its core items to 50p. The chain has reduced prices in the past, such as when clearing stocks, but the sale that started on New Year's Day marks the first time it has halved the price of...

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Poundland to start selling clothes.... but not for £1

Monday 19 December 2016 - Posted by Elias Jahshan

Poundland has unveiled plans to start selling clothing – but they probably won’t come with the retailer’s famed £1 price tag. Andy Bond, who heads up the bargain retailer as the boss of Pepkor Europe, has said he wanted to introduce the group’s Pep & Co clothing to every store...

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Poundland moves away from £1 model

Friday 09 December 2016 - Posted by Ben Stevens

Poundland has announced that it will move away from its single price model and offer a broader range of products. The discount retailer was recently acquired by South African giant Steinhoff in an arduous take over process for £635 million. Steinhoff has now announced that it ...

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B&M to press ahead with rapid expansion after rise in profits

Tuesday 15 November 2016 - Posted by Elias Jahshan

Discount retailer B&M has recorded a 15 per cent growth in half-year core earnings and confirmed it expected to meet expectations for the full year as it continued its rapid store opening programme. The retailer said it was on schedule to open 69 new stores in its 2016/17 year...

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TK Maxx post 11% growth amid struggling fashion sector

Monday 31 October 2016 - Posted by Ben Stevens

TK Maxx have released their full year results reporting strong pre-tax profits and growing sales, amid turbulent times for fashion retailers. The discount fashion retailer reported both a profit hike and total sales increase of 11 per cent to £142.3 million and £2.4 billion re...

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Barry Williams chooses Poundland over Morrisons for next chapter

Monday 24 October 2016 - Posted by Elias Jahshan

Barry Williams has turned down his upcoming position with Morrisons and will join Poundland instead as its new trading director. Williams was set to begin his role as Morrisons’ ambient trading directior in February, but will now work at discount retailer from November 14. He ...

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Matalan's Q2 profits spike 570%

Thursday 13 October 2016 - Posted by Elias Jahshan

Matalan has welcomed its massive 570 per cent surge in profits in its second quarterly report, despite it experiencing a dip in sales. The discount retailer raked in £15.4 million in EBITDA profit for the 13 weeks to August 27, a huge jump from the £2.3 million recorded this t...

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Lidl UK’s chief operating officer steps down after 14 years

Monday 10 October 2016 - Posted by Elias Jahshan

Lidl UK chief operating officer Martine Bailie has resigned after 14 years with the the discount grocery chain, just a month after former chief executive Ronny Gottschlich’s sudden departure. According to Retail Week, Bailie is to pursue “another opportunity” after being “offe...