Quids in: Poundland to create up to 15,000 jobs by doubling the number of stores to 1,000

Graham Hiscott
1 Oct 2013
Mirror UK

Discount store chain makes expansion announcement as it reveals profits had risen by 30 per cent

The price at Poundland is staying the same but bosses have revealed the number of stores is set to double.

Ambitious chiefs at the discount chain said they intend to expand their collection of shops from 490 to at least 1,000.

The plans, which could create 15,000 jobs, were announced as the firm released figures showing its profits had risen 30% to £23.1million.

Chief executive Jim McCarthy rejected the idea that his stores, where everything costs £1, are only thriving because millions are being forced to watch the pennies.

He said: “We have been in existence for 23 years and the majority of that time, the economy has been considered to be good.”

Mr McCarthy added: “Our target of 1,000 stores shows there is plenty of growth to come.”

Poundland, which did not reveal its timescale for reaching the 1,000 landmark in the UK, opened an average of one new shop every week last year.

The firm aims to expand at the same rate for at least the next two years.

Its first stores in mainland Europe are due to open in the next 18 months under the name Dealz.