poundland

File:Old school Poundland (24388562089).jpg, Merseyside in 2016]]

Poundland was co-founded by Dave Dodd and father and son team Keith{{cite web | url=https://www.bbc.co.uk/programmes/m001bcny | title=BBC Radio 4 – Last Word, Margaret Keane, Keith Smith, Mario Fiorentini, Brenda Fisher }}{{cite web | url=https://www.staffordshire-live.co.uk/news/burton-news/co-founder-poundland-started-burton-7496667 | title=Co-founder of Poundland which started in Burton dies | date=23 August 2022 }}{{cite web | url=https://www.birminghammail.co.uk/black-country/poundland-pay-tribute-legendary-founder-24801563 | title=Poundland pay tribute to 'legendary' founder who went from rags to riches | date=19 August 2022 }} and Steven Smith in April 1990{{cite web | url=https://www.expressandstar.com/news/business/2022/08/21/loved-working-for-him-former-employees-of-mr-poundland-keith-smith-remember-a-kind-boss/ | title='Loved working for him': Former employees of Mr Poundland Keith Smith remember a kind boss | date=21 August 2022 }}{{cite web|url=http://icbirmingham.icnetwork.co.uk/0100news/features/page.cfm?objectid=15075416&siteid=50002&method=full |title=Poundland buy-out puts Dodd on cloud nine |publisher=icBirmingham |year=2004}} with a starting capital of just £50,000 and an office in Sedgley.{{cite news |url=https://www.telegraph.co.uk/finance/personalfinance/fameandfortune/11511333/Poundland-founder-Steve-Smith-I-gave-my-parents-25m-when-I-sold-the-company.html |title=Poundland founder Steve Smith: 'I gave my parents £25m when I sold the company' |newspaper=Telegraph |date=5 April 2015 |access-date=8 January 2017}} The firm was funded by a loan from Keith Smith, who had set up the wholesaler and discount store Hooty's in 1963.{{cite web | url=https://www.expressandstar.com/news/2014/01/01/the-end-of-an-era-as-hootys-shuts-up-shop/ | title=The end of an era as Hooty's shuts up shop | date=January 2014 }}Last Word on BBC Radio 4: Matthew Bannister on Margaret Keane, Keith Smith, Mario Fiorentini, Brenda Fisher (first broadcast on 26 August 2022) The first pilot shop opened in December 1990 in the Octagon Centre, Burton upon Trent and managed a turnover of £13,000 from 624 products on its first day of trading.{{citation needed|date=January 2020}} Previous attempts at opening pilot shops had failed after being turned down by landlords who had reservations about allowing such a shop to operate and doubted the single-price concept would be successful in the UK.

By the end of the first year, Poundland was operating from several shops and had turned over £1 million, with a profit of £6,000. Growth continued throughout the early 1990s, with six shops by December 1991 and a further seven a year later. In 1995, Steven Smith failed to plan for more warehouse space and retail growth pushed their storage capacity past its limits. In response to unacceptably high stock theft, a new {{convert|130000|sqft|m2|sigfig=2|adj=on}} warehouse was built, although it reduced profits from £850,000 in 1994 to £400,000 in 1995. Operational difficulties were resolved throughout 1996, when a new office in Hong Kong opened to support product sourcing and operations in the UK.{{cite news |url=http://www.huffingtonpost.co.uk/2015/08/25/poundland-99p-store-sell-off_n_8035920.html |title=Poundland's Incredible Rise Explained As Company Moves To Buy '99p Stores' |work=Huffington Post |date=25 August 2015 |access-date=14 January 2017}}

File:Poundland, Kings Mall, Hammersmith.jpg, London]]

Although enduring a troubled first few years, by the 2000s Poundland had become a multi-million-pound business, opening their 150th shop in Northampton in mid-2006 with steady increases in gross turnover throughout the decade.{{cite web|url=https://www.marketingweek.com/2008/03/06/poundland-seeks-to-widen-appeal-as-consumers-tighten-belts/ |title=Poundland seeks to widen appeal as consumers tighten belts |access-date=14 January 2017 |publisher=Marketing Week |date=6 March 2008 }} Following a management buy-out in 2002 by Advent International for £50 million,{{cite news|url=https://www.independent.co.uk/news/business/news/barclays-private-equity-eyes-pound200m-takeover-of-poundland-1930579.html |title=Barclays Private Equity eyes £200m take-over of Poundland |work=The Independent |date=29 March 2010 |access-date=3 April 2010 | location=London | first=James | last=Thompson}} the company continued to grow with annual profit growth of 46% a year from £4.1 million in 2006 to £12.7 million in 2009.{{cite web |url=http://www.fasttrack.co.uk/company_profile/poundland-5/ |title=Poundland Company Profile |publisher=Fast Track |access-date=9 January 2017}} Chairman Colin Smith, speaking in April 2005 as Poundland revealed it had invested £20–25 million in building a {{convert|300000|sqft|m2|sigfig=2}} distribution centre, suggested there was great scope for further growth, saying "We can clearly conceive this chain having 400-plus stores in future";{{cite news|url=https://www.thefreelibrary.com/Poundland+gears+up+to+reach+400+outlet+total.-a0132162507 |title=Poundland gears up to reach 400 outlet total |publisher=The Grocer |date=16 April 2005 |access-date=8 January 2017}} this target was reached in 2012 with the opening of their Haringey store.

File:Poundland, Belfast, June 2010.JPG]]

Poundland reported strong sales in a time of economic crisis, with 2008–2009 revenue just short of £400 million, up from £330 million the previous year.{{cite news|url=https://www.theguardian.com/business/2008/dec/06/poundland-recession-creditcrunch |title=Poundland is booming |work=The Guardian |date=6 December 2008 |access-date=11 December 2008 | location=London | first=Julia | last=Finch}} Despite this, Poundland closed stores not financially viable, even if well-positioned, such as in West Ealing where it was believed that high rental costs were one of the reasons why the company pulled out of the area.{{cite web|url=http://www.ealingtoday.co.uk/default.asp?section=info&page=eapoundland.htm |title=The recession claims another West Ealing shop |work=Ealing Today |access-date=1 September 2009}} Former CEO Jim McCarthy suggested there is a misconception that Poundland is a better business in a recession, saying that they are better during normal economic conditions, but robust enough to manage well under any economic conditions.

When the rate of VAT was reduced in November 2008 from 17.5% to 15%, Poundland's prices remained fixed at £1, having kept the single price of £1 for 18 years while absorbing duty and increased supplier costs, saying that savings would be passed on in other ways.{{cite news|url=http://business.timesonline.co.uk/tol/business/columnists/article5257409.ece |archive-url=https://web.archive.org/web/20110612083211/http://business.timesonline.co.uk/tol/business/columnists/article5257409.ece |url-status=dead |archive-date=12 June 2011 |title=Poundland is staying quids in after Vat cut |work=Times Online |date=30 November 2008 |access-date=30 November 2008 | location=London | first=Kate | last=Walsh}} Reports emerged in September 2008 that Poundland's owners, Advent International, were to put the retail chain up for sale, with figures showing that value retailers were seeing business boom during the economic recession,{{cite news|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/4676596/Advent-eyes-Poundland-sale-as-shoppers-feel-pinch.html |title=Advent eyes Poundland sale as shoppers feel pinch |access-date=9 January 2017 |newspaper=The Telegraph |date=14 September 2008}} noting that value-conscious customers were switching from traditional larger supermarket retailers for everyday necessities. The retailer announced in 2010 a surge in sales by nearly 35% over the 2009–2010 festive period.{{cite news|url=https://www.theguardian.com/business/2010/jan/11/poundland-christmas-sales-rise |title=Poundland Christmas sales rise by a third |work=The Guardian |date=11 January 2010 |access-date=11 January 2010 | location=London}}

In early 2010, Poundland's owners Advent International were planning on cashing in on the resurgence in discount retailers by preparing to put the chain up for sale. The report came as figures showed that value retailers were seeing a business boom in the 2008 financial crisis,{{cite news |url=https://www.ft.com/content/b937f5be-2d47-11df-9c5b-00144feabdc0 |archive-url=https://ghostarchive.org/archive/20221211231228/https://www.ft.com/content/b937f5be-2d47-11df-9c5b-00144feabdc0 |archive-date=11 December 2022 |url-access=subscription |url-status=live |title=Advent ready to put Poundland up for sale |access-date=8 January 2017 |publisher=Financial Times |date=11 March 2010 }} with Barclays Private Equity expressing an interest in a potential take-over of Poundland for about £200 million. On 4 May 2010, it was announced that Poundland had been sold to US private equity firm Warburg Pincus for £200 million{{cite news|url=https://www.theguardian.com/business/2010/may/04/poundland-sold-private-equity-deal |title=Poundland sold for £200m in private equity deal |work=The Guardian |date=4 May 2010 | location=London | first=Graeme | last=Wearden | access-date=22 May 2010}} and was the subject of an initial public offering in March 2014.{{cite news|url=https://www.theguardian.com/business/2014/mar/12/poundland-pets-at-home-float-share-price-ipo|title=Poundland and Pets at Home set flotation share prices|date=12 March 2014|work=The Guardian|access-date=24 June 2014}}

The company acquired 99p Stores in 2015, which was followed by a drop in its share price from 350p to 150p; in August 2016, the now-struggling Poundland was sold to the South African company Steinhoff International for £610 million.{{cite web |url=https://www.theguardian.com/business/nils-pratley-on-finance/2016/jul/13/poundlands-bid-decision-is-fine-but-please-dont-use-brexit-as-the-excuse |title=Poundland's bid decision is fine – but please don't use Brexit as the excuse |newspaper=The Guardian |date=13 July 2016 |author=Nils Pratley}} Poundland's shareholders approved the takeover in September 2016.{{cite news|last1=Bradshaw|first1=Julia|title=Steinhoff seals Poundland takeover after shareholders give blessing|url=https://www.telegraph.co.uk/business/2016/09/07/steinhoff-seals-poundland-takeover-after-shareholders-give-bless/|access-date=29 October 2016|work=The Telegraph|date=7 September 2016}} The business converted the 99p Stores under the Poundland brand, and introducing 'Poundland & More', selling at a range of different prices, in the acquired stores.{{cite web|url=http://www.apuk.net/News-Poundland--More-Poundland-launches-new-multi-price-trial-stores--n172.html|title=Poundland launches "Poundland & More" multi-price trial stores |publisher=Access Point |date=11 May 2016 |access-date=9 January 2017}}

In November 2017, Poundland signed a deal with British online shopping retailer musicMagpie to receive supplies of used CDs, DVDs and Blu-Rays, which are then sold for £1 as part of Poundland's Replay range.{{cite news|url= https://www.business-live.co.uk/retail-consumer/rise-dvds-cds-poundland-sells-16598418|title=Poundlands see DVDs and CDs sell rise |work=Business Live |date=17 July 2019 |access-date=28 March 2020}}

In October 2020, Poundland announced they had purchased Frozen Value Ltd,{{cite web |url=http://www.fultonsfoods.co.uk/store-locator/ |title=Find a Store – Fultons Foods |access-date=8 December 2021 |archive-date=9 December 2021 |archive-url=https://web.archive.org/web/20211209195412/http://www.fultonsfoods.co.uk/store-locator/ |url-status=dead }} a frozen food retailer known for the Fulton's Foods chain of convenience stores.{{cite web|url=https://www.retailgazette.co.uk/blog/2020/10/poundland-acquires-fultons-foods-whats-next-frozen-food/|title=Poundland acquires Fultons Foods, so what's next for its frozen food offering? |website=Retail Gazette |date=21 October 2020|access-date=23 April 2021 |first=Sahar |last=Nazir }}

In 2021, Poundland introduced a new 'corner shop' convenience store format called Poundland Local, with a number of the acquired Fultons Foods shops being converted into the new format.{{cite web|url=https://www.poundland.co.uk/about-us/our-history/ |title=Our History |publisher=Poundland |date= |accessdate=18 March 2022}} Poundland Local was first launched in the East Midlands and Yorkshire, with the stores{{cite web|last=Gordon |first=Caoimhe |url=https://www.retail-week.com/stores/store-gallery-inside-poundlands-new-local-convenience-format/7039882.article?authent=1 |title=Store gallery: Inside Poundland's new Local convenience format | Gallery |publisher=Retail Week |date= |accessdate=18 March 2022}} selling a core range of everyday groceries, snacks and household products. The first Poundland Local{{cite web|last=Farrell |first=Steve |url=https://www.thegrocer.co.uk/poundland/poundland-opening-first-new-convenience-format-local-stores/656348.article |title=Poundland opening first new convenience format Local stores | News |publisher=The Grocer |date= |accessdate=18 March 2022}} opened in Kendray (near Barnsley){{cite web| url = https://www.examinerlive.co.uk/news/local-news/gallery/inside-uks-first-poundland-local-20643841| title = Inside the UK's first Poundland Local store opening in Barnsley on May 21 – YorkshireLive| date = 20 May 2021}} on 21 May 2021, with a second store opening the next day in Hornsea.{{cite web|url=https://www.retailgazette.co.uk/blog/2021/05/does-poundland-local-pose-a-threat-to-convenience-stores/|title=Does Poundland Local pose a threat to convenience stores?|date=25 May 2021 }} Both stores were former Fultons Foods stores.{{cite web|url=https://www.retailgazette.co.uk/blog/2021/05/poundland-to-launch-local-store-format/|title=Poundland to launch local store format – Retail Gazette|date=20 May 2021 }} In addition to Poundland Local, the firm also trialled a new store concept for railway stations and other transport hubs called Poundland Go!{{cite web|last=Farrell |first=Steve |url=https://www.thegrocer.co.uk/poundland/poundland-planning-new-formats-poundland-local-and-poundland-go/655273.article |title=Poundland planning new formats 'Poundland Local' and 'Poundland Go!' | News |publisher=The Grocer |date= |accessdate=18 March 2022}}

In February 2022, Poundland opened their biggest retail store at Riverside Retail Park, Nottingham, in a former multi-outlet clothing store previously housing Dorothy Perkins, Topman, Topshop, Burton and Miss Selfridge, which closed following the collapse of parent Arcadia Group in 2020. The new Poundland outlet sells a wider range of foodstuffs including beer, wine and spirits, fresh fruit and vegetables in addition to chilled and frozen, which is planned to be rolled out to further stores during 2022.[https://www.nottinghampost.com/news/local-news/excitement-over-huge-new-poundland-6458444 Excitement over huge new Poundland at Nottingham's Riverside Retail Park] Nottinghamshire Live, 8 January 2022. Retrieved 28 February 2022[https://www.retailgazette.co.uk/blog/2022/02/sneak-peak-poundland-opens-biggest-store-with-bakery-booze-and-fitting-rooms/ Sneak peak[sic]: Poundland opens biggest store with bakery, booze and fitting rooms] Retail Gazette, 12 February 2022. Retrieved 28 February 2022[https://www.itv.com/news/central/2022-02-11/britains-biggest-ever-poundland-store-opens-in-nottingham Britain's biggest ever Poundland store opens in Nottingham] itv.com, 12 February 2022. Retrieved 28 February 2022[https://www.bbc.co.uk/news/business-60355782 Poundland moves into fresh food] BBC News, 12 February 2022. Retrieved 28 February 2022 Soon after, Poundland announced that a bigger new store opening was imminent, located at Stockton on Tees.[https://www.retailgazette.co.uk/blog/2022/02/poundland-to-open-its-largest-uk-store-to-date-in-stockton-on-tees/ Poundland to open its largest UK store to date in Stockton-on-Tees] Retail Gazette, 17 February 2022. Retrieved 18 April 2022[https://www.thenorthernecho.co.uk/news/19950688.poundland-teesside-park-prepares-open-weekend/ Poundland at Teesside Park prepares to open this weekend] The Northern Echo, 25 February 2022. Retrieved 18 April 2022

In September 2023, Poundland acquired 71 stores from the collapsed Wilko chain in a last-minute deal and said it would prioritise the recruitment of former Wilko staff.{{cite web |last1=O'Boyle |first1=Daniel |title=Poundland to save 71 Wilko shops in last-minute deal and rebrand them under its own name |url=https://www.standard.co.uk/business/poundland-buy-wilko-shops-retail-administration-collapse-bust-pwc-hmv-putman-sale-b-m-wilkinson-b1106526.html |website=Evening Standard |access-date=12 September 2023 |date=12 September 2023}}

File:Poundland morethanapound.jpg

For much of its history, Poundland promoted their sales strategy through the slogan: "Yes, Everything's £1!", yet started selling items for more than £1 from the mid-2010s onwards; the Advertising Standards Authority received complaints that the slogan was thus misleading and required it cease being used.{{cite web |url=https://www.mirror.co.uk/usvsth3m/poundland-trouble-selling-things-cost-5270303 |title=Poundland are in trouble for selling things that cost more than a pound |website=Daily Mirror |date=4 March 2015 |access-date=15 January 2017}} There had been plans to expand the price offering in 2009 (such as a £2 section, 50p section etc.), but they were decided against at the time after understanding the overwhelming message from customers was not to change the easily understandable single price strategy.{{cite news|url=http://www.scotsman.com/business/poundland-s-chief-tells-how-the-bargain-brand-has-forced-the-big-names-on-the-high-street-to-take-notice-1-1353346 |title=Poundland's chief tells how the bargain brand has forced the big names on the high street to take notice |work=The Scotsman |date=7 June 2009 |access-date=30 August 2009}}

For the majority of stock sold at £1, the company does not need to transmit pricing information to stores and associate price tags with each item.{{cite web|url=http://www.thegrocer.co.uk/articles.aspx?page=articles&ID=83276 |title=Poundland 'winning supplier confidence' |work=The Grocer |date=8 February 2003 |access-date=22 September 2009|archive-url=https://web.archive.org/web/20100114172925/http://www.realbusiness.co.uk/4771541/coining-it-in.thtml|archive-date=14 January 2010}} With some manufacturers being apprehensive about selling their brands in a discount environment, the store offers the alternative of selling the products under their own brand.{{cite web |url=http://www.ecnmy.org/engage/poundland-tricks-retail-trade/ |title=Poundland – Tricks of the retail trade |publisher=Economy Team |date=3 August 2016 |access-date=8 January 2017}} Inflation can present challenges to single-price retailers as the primary marketing strategy requires products never to increase in price. However, inflation can also be to an advantage, as some products which may previously have retailed below £1 (therefore cheaper elsewhere) may then become better value for £1.{{cite news|url=http://news.bbc.co.uk/1/hi/business/7680302.stm |title=How do pound shops cope with inflation? |work=BBC News |date=23 October 2008 |access-date=6 November 2008 | first=Anthony | last=Reuben}}

Problems arising from inflation are dismissed by Poundland, such as freight costs which become lower when the pound is weaker, in turn counteracting the impact. Various sales tactics are adopted to counteract inflation and reduce costs, including decreasing the quantity of an item within a set (such as removing a pencil within a larger pack) and replacing known brands with their own-brand alternatives. Examples of branded products being replaced include confectionery products After Eights{{cite web |url=https://www.retailgazette.co.uk/blog/2017/03/poundland-accelerates-push-to-sell-items-over-1/ |title=Poundland accelerates push to sell items over £1 |work=Retail Gazette |date=30 March 2017 |access-date=9 April 2017}} and Toblerone. Poundland's Toblerone replacement planned to launch in July 2017, by offering a closely resembling own-brand product named Twin Peaks,{{cite web |url=https://www.thegrocer.co.uk/buying-and-supplying/new-product-development/poundland-unveils-toblerone-style-chocolate-bar-twin-peaks/554176.article |title=Poundland unveils Twin Peaks, a Toblerone-style chocolate bar |work=The Grocer |date=19 June 2017 |access-date=28 June 2017}} though following a legal battle from Toblerone's manufacturer, the product had to be redesigned to be distinctly different.{{cite web |url=https://www.theguardian.com/business/2017/oct/24/poundland-reaches-deal-with-toblerone-makers-over-copycat-bar |title=Poundland reaches deal with Toblerone makers over copycat bar |work=The Guardian |date=24 October 2017 |access-date=9 November 2017}}

File:Poundland Toolbox.jpg

Poundland offer approximately 3,500 products, of which 1,000 are branded, mostly food and drink. Stock typically is categorised as either ongoing core lines (products bought direct from the manufacturer), seasonal ranges or clearance stock, with 10,000 new products featured each year. Initially, unbranded products stocked by Poundland (accounting for roughly 70% of total stock) would carry the Poundland branding and logo, however the retailer determined it could increase sales by removing the Poundland branding and instead marketing their own sub-brand of products. Some of the products sold under the in-house brand are supplied by manufacturers who are worried about their brand being sold in discount stores and would rather allow their products to sell without their own branding attached.

As well as their in-house brand lines, the retailer sells many products from familiar brands, such as Colgate, Walkers and Cadbury.{{cite web|url=http://www.lancashiretelegraph.co.uk/news/3612297.display/ |title=Champagne corks to pop for Preston Poundland |publisher=Lancashire Telegraph |date=25 August 2008 |access-date=8 January 2017}} Poundland were reported to be Britain's largest seller of batteries in 2009, stocking brands such as Sony, Panasonic and Kodak in competitively priced quantities,{{cite news|url=https://www.theguardian.com/lifeandstyle/2009/aug/04/poundland |title=How Britain fell in love with Poundland |work=The Guardian |date=4 August 2009 |access-date=28 August 2009 | location=London | first=Jon | last=Henley}} with Kodak AA batteries being a high seller 2009.{{cite news|url=https://www.mirror.co.uk/news/uk-news/poundland-and-other-cheap-stores-thrive-in-recession-386467 |title=Poundland and other cheap stores thrive in recession and credit crunch |work=Daily Mirror |date=5 April 2009 |access-date=9 January 2017}} Poundland also sell large quantities of their stock to other retailers off-the-shelf, where it is cheaper for these retailers to pay £1 each for a bulk purchase than it would be to pay a discounted bulk-purchase rate elsewhere.

From 2016, Pep&Co clothing items were sold in Poundland branches, although at prices higher than the £1 single-price. Whilst some Pep&Co outlets would share store space with larger Poundland outlets, smaller stores feature a minimal clothing offering.{{cite web |url=https://www.retailgazette.co.uk/blog/2016/12/poundland-to-start-selling-clothes-dot-dot-dot-but-not-for-1-pounds |title=Poundland to start selling clothes.... but not for £1 |work=Retail Gazette |date=19 December 2016 |access-date=28 January 2017}}

In 2018, Poundland announced that it will stop selling kitchen knives in all stores across the UK following a surge in knife attacks. As of July 2018, the ban has taken effect in the London and West Midlands regions.{{cite news |url=https://metro.co.uk/2018/07/06/poundland-stop-selling-kitchen-blades-rise-knife-crime-7688101/ |title=Poundland to stop selling kitchen blades because of rise in knife crime |newspaper=Metro |date=6 July 2018 |access-date=17 July 2018}}

From 2023, Poundland and Pep&Co product ranges were gradually phased out in favour of Pepco branded ranges. This transition was seen as a potential cause for a dip in like-for-like sales at the group in 2024.{{cite web |last=Wright |first=Georgia |date=2 February 2023 |title=Pep&Co to axe jobs at UK head office – Retail Gazette |url=https://www.retailgazette.co.uk/blog/2023/02/pepco-to-axe-jobs-at-uk-head-office/ |access-date=7 November 2023 |website=www.retailgazette.co.uk }}{{cite web |url=https://www.retailgazette.co.uk/blog/2024/04/poundland-sales-dip/ |title=Poundland sales dip as it overhauls general merchandise |publisher=Retail Gazette |access-date=12 April 2024}}

Poundland estimated it served 7 million customers per week in 2016, with most in the C1, C2, D and E categories although claimed in 2008 that 10% of their customers were in the A/B social grade groups, an increase of 22% compared to 2007.{{cite news|url=https://www.mirror.co.uk/news/uk-news/the-story-of-poundland---the-land-the-credit-345624 |title=The story of Poundland – the land the credit crunch forgot |access-date=9 January 2017 |work=Daily Mirror |date=8 October 2008}} Poundland's typical appeal to low-income households is a reputation they are seeking to distance themselves from, as they expand into mainstream shopping centres and districts, with a focus on attracting higher earning consumers.

File:Poundworld - Carlton St (geograph 2020769).jpg, which was Poundland's closest competitor]]

File:Pound shop wars... Poundworld and Poundland, Seacroft Green Shopping Centre (24th November 2019).jpg branches next to each other in Seacroft, Leeds.]]

Since the acquisition of 99p Stores in 2015, Poundland's closest competitor was the now defunct Poundworld. Other competitors are discount retailers B&M, Home Bargains and supermarkets.{{cite web|url=https://www.gov.uk/government/news/cma-formally-clears-poundland99p-merger|title=CMA formally clears Poundland/99p merger|publisher=Competition and Markets Authority|date=18 September 2015|access-date=22 July 2018}}

Poundland may sometimes find they are competing with other retailers' own produce. It was reported in May 2010 that Poundland were selling rebranded lotions for £1, exactly the same product that Boots were selling under their own brand for significantly more. Boots responded to the findings by suggesting that the products available in Poundland stores were likely excess stock they had sold off below cost price which had been destined for overseas markets, with some directed into UK distribution without their permission.{{cite web|url=https://www.retail-week.com/sectors/health-and-beauty/boots-addresses-sale-of-its-products-in-poundland/5012814.article |title=Boots addresses sale of its products in Poundland |publisher=Retail Week |date=7 May 2010 |access-date=15 January 2017}}

Larger chains have felt the impact of discount retailers, with some customers switching from larger supermarket retailers for everyday necessities. To entice customers into their stores from larger supermarket chains, Poundland advertise familiar brands at competitive prices, in the hope that customers may then be inclined to impulse buy other products, such as own-brand goods that they otherwise would not have purchased. Asda reduced some branded product prices such as Colgate toothpaste to £1 in January 2009, in competition with Poundland who offered the same products at the £1 price; in response, Poundland introduced multi-buy offers to provide a larger quantity of the products for the same price.{{cite news|url=https://www.mirror.co.uk/news/uk-news/asda-war-on-poundland-368934 |title=Asda war on Poundland |work=Daily Mirror |date=2 January 2009 |access-date=2 January 2009}} However, research conducted by The Grocer magazine in August 2009 found that of the 1300-odd supposedly discounted Asda products, a third were the same price as in March 2008 and 173 products had been selling for less than £1 during spring 2009.

Image:Poundland stores.jpg

From 2000 until 2003, company growth was steady, with a milestone 100th store opening in Shirley, West Midlands in 2003,{{cite news|url=https://www.expressandstar.com/news/local-news/2015/05/14/25-years-of-poundland-empire/ |title=25 years of the Poundland empire |date=14 May 2015 |access-date=9 January 2017 | newspaper=Express & Star}} yet in the following three years, store numbers had increased by 50% to 150 by 2006. Growth slowed until early 2008 when Poundland took advantage of the economic downturn to further expand at an average rate of 3.7 stores a month, from February 2008 to September 2009, opening their 200th store during this time.{{cite web|url=http://www.digitalspy.com/showbiz/coronation-street/news/a136784/corrie-star-to-open-200th-poundland/ |title=Corrie star to open 200th Poundland |work=Digital Spy |date=26 November 2008 |access-date=27 November 2008}} As of 2015, Poundland's UK and Ireland stores averaged {{convert|5233|sqft|m2|sigfig=2}}, and typically ranged from {{convert|1700|to|12000|sqft|m2|sigfig=2}}.{{cite web |url=http://www.poundlandcorporate.com/~/media/Files/P/Poundland/reports-and-presentations/Poundland-annual-report-2014.pdf

|title=Poundland Group plc Annual Report & Financial Statements|date=2 July 2014}}

The retailer expanded into Northern Ireland and opened six stores before Christmas 2009, selling locally sourced goods such as milk, as well as their usual branded products. Following the acquisition of 99p Stores, Poundland announced 80 stores were to close in November 2016, just two months after their takeover by Steinhoff International.{{cite news |url=https://www.telegraph.co.uk/business/2016/11/26/poundland-offload-80-stores/ |title=Poundland to offload up to 80 stores |newspaper=The Telegraph |date=26 November 2016 |access-date=9 January 2017}}

Poundland have seen increases in turnover year on year,{{cite web|url=http://www.researchandmarkets.com/feats/download_sample.asp?report_id=360340&file_name=Toy%20and%20Model%20Shops%20UK%20-%20Portfolio%20Analysis%20-%20Poundland%20Ltd&file_ext=pdf |title=Toy and Model Shops UK – Poundland Portfolio Analysis |publisher=Toy and Model Shops}} helped by an increase of store openings and turbulent economic conditions in the mid-2000s. While some high street shops reported a downturn in profits during the 2008 financial crisis, Poundland achieved growth attributed to the 2007–2008 world food price crisis,{{cite news|url=http://news.bbc.co.uk/1/hi/business/7438315.stm |title=The Profits of Gloom |access-date=31 August 2008 |work=BBC News |date=6 June 2008 | first=Jason | last=Gwynne}} including increased sales of toothpaste and tinned food.{{cite news|url=https://www.independent.co.uk/news/business/analysis-and-features/crisis-what-crisis-the-ten-retailers-defying-the-gloom-857655.html |title=Crisis? What Crisis? – The ten retailers defying the gloom |date=30 June 2008 |access-date=14 January 2017 |work=The Independent}}

{{further|Dealz}}

Although price-point retailing and psychological pricing were first adopted in the United States during the 1870s by Frank Winfield Woolworth,{{cite news |url=https://www.bbc.co.uk/news/magazine-20639800 |title=How did pound shops change the UK? |publisher=BBC |date=11 December 2012 |access-date=10 January 2017}} the chain claims to have introduced this concept to Europe,{{cite web|url=http://www.apuk.net/Retailer-Spotlight---Poundland-b172.html |title=Retailer Spotlight – Poundland |publisher=Access Point |date=27 May 2016 |access-date=9 January 2017}} and in 2009 claimed to be the largest single-price discount retailer in Europe.{{cite news|url=http://news.bbc.co.uk/1/hi/northern_ireland/8248583.stm |title=Poundland to open six NI stores |access-date=12 September 2009 |work=BBC News |date=10 September 2009}}

On 2 August 2011, Poundland announced plans to expand into mainland Europe under the name Dealz. The first six stores opened in Ireland in late 2011, creating 120 jobs,{{cite news |url=https://www.independent.co.uk/news/business/news/poundland-to-expand-into-eurozone-2330550.html |title=Poundland to expand into eurozone |newspaper=The Independent |date=2 August 2011 |access-date=10 January 2017}} and were followed by a store in the Isle of Man in December 2011.{{cite web |url=http://www.just-food.com/news/poundland-to-extend-dealz-format-to-uk_id117597.aspx |title=UK: Poundland to extend Dealz format to UK |publisher=Just Food |date=6 December 2011 |access-date=12 February 2017}} The name 'Euroland' was not used in Ireland, due to poor feedback from potential customers.{{cite news| url=https://www.theguardian.com/business/2011/aug/02/poundland-open-stores-ireland | location=London | work=The Guardian | first=Simon | last=Bowers | title=Poundland to open 4 stores in Ireland – just don't mention the euro | date=2 August 2011}}

A Poundland museum has been created at Ludstone Hall, Claverley. This depicts the life of Steve Smith and his rise as market stall holder at Bilston Market to a multi-millionaire.

{{Gallery

|title=Poundland Museum

|width=240 | height=100

|align=center

|File:Ludstone Hall Panorama.jpg

|alt1=Ludstone Hall Panorama

|Ludstone Hall Panorama, Claverley, UK. Owned by the father of Poundland millionaire Steve Smith.

|File:Steve Smith Poundland Museum.jpg

|alt2=Steve Smith Poundland Museum

|Steve Smith Poundland Museum

}}

Although the £1 price once prevailed throughout the stores, some branded products have been known to be offered cheaper at supermarket chains, such as a case reported by the Daily Mirror newspaper in November 2009, which compared Poundland prices for branded products with the same products offered at supermarket stores and found in some cases the supermarkets offered better value.{{cite news|url=https://www.mirror.co.uk/news/uk-news/supermarkets-beat-poundland-prices-794988 |title=Supermarkets beat Poundland prices |work=Daily Mirror |date=28 November 2009 |access-date=8 January 2017}} In 2019 25% of prices were over £1.{{cn|date=January 2023}} By 2022 over half their prices were over £1.{{cn|date=January 2023}}

File:Polo mints.jpg

In 2008, Poundland faced controversy by green campaigners over transporting Polo peppermints {{convert|7300|mi|km}} into the UK from Indonesia, rather than sourcing the product locally and in spite of being close to the Nestle Rowntree's factory in York, which has made the mint since 1948. Poundland insisted it was cheaper for them to source the product from overseas, including transport costs;{{cite news|url=https://www.mirror.co.uk/news/uk-news/row-over-poundland-polo-mint-296771 |title=Row over Poundland Polo mint imports |access-date=21 July 2017 |work=Daily Mirror |date=7 March 2008}} the mints were transported by ship, not by air, lessening the environmental impact of shipping substantially.{{cite web|url=https://www.freightos.com/freight-resources/air-sea-freight-co2-emissions-calculator/|title=FreightosCO2 Emissions Sea & Air Freight Calculator}}

Some products occasionally fail to meet health and safety standards and may pose a health threat to the consumer. Previous examples have included withdrawal of dangerous car jump leads in February 2006 found to have only a 3-ampere wire which, if used, could quickly overheat, melt and possibly catch fire, as well as recalling Halloween witch hats in October 2008, after checks revealed a small number of chemicals classified unsafe.{{cite news|url=http://news.bbc.co.uk/1/hi/business/7697678.stm |title=Witch hats recalled by Poundland |work=BBC News |date=30 October 2008 |access-date=1 November 2008}} In 2010, Poundland were fined £4,000 after a customer suffered injury due to a defective fishing catapult{{cite web|url=http://www.edp24.co.uk/news/crime/poundland_fined_4_000_after_lowestoft_shopper_injured_1_718493|title=Poundland fined £4,000 after Lowestoft shopper injured|author=Brooks, Stephanie|work=Eastern Daily Press|date=5 November 2010}} and in the same year was fined £3,500 for selling lighters that produced a flame causing the device to melt during normal use.{{cite web|url=http://www.gazettelive.co.uk/news/local-news/stockton-poundland-fined-selling-unsafe-3695476|title=Stockton Poundland fined for selling unsafe lighters|author=Andrew Pain|date=4 November 2010|work=gazettelive}}

In 2005, Poundland was fined £3,000 after being found to be blocking fire exits, with a further breach in 2011 that incurred a fine of £20,000 and evacuation of a store due to poor fire safety.{{cite web|url=https://www.staylegal.net/poundland-fined-20000-for-portsmouth-store-safety-breaches/ |title=Poundland fined £20,000 for Portsmouth store safety breaches |publisher=Stay Legal |date=10 February 2011 |access-date=9 January 2017}}

Poundland were fined £24,000 in June 2012 following an investigation of a store in Croydon, Greater London. Council inspectors found poor hygiene, mouse infestation and food contaminated by mice chewing open the packaging and leaving droppings and urine inside, which were then re-sealed and sold to the public. Poundland admitted failing to withdraw food unfit for consumption, failing to control mice and failing to ensure the store was well maintained and clean. Additionally they admitted to failure to implement and maintain its own food safety management system.{{cite web|title=Poundland fined £24,000 over rodent infestation|url=https://www.yourlocalguardian.co.uk/news/9772639.poundland-fined-after-croydon-store-found-infested-with-mice/|access-date=18 September 2020|website=Your Local Guardian|date=20 June 2012 }}

In June 2015, Poundland were fined £10,000 following an investigation by Islington Council of a store in north London. Evidence of a widespread mouse infestation and that the company had failed to take appropriate action to remedy the situation was presented in court.{{cite news|url=http://metro.co.uk/2015/06/19/poundland-fined-10000-after-mouse-droppings-discovered-in-a-store-5254697/|title=Poundland fined £10,000 after mouse droppings discovered in a north London store|work=Metro|date=19 June 2015}}{{cite web|url=http://www.itv.com/news/london/2015-06-19/poundland-fined-10k-over-mice-infestation/|title=Poundland fined £10k over mice infestation|work=ITV News|date=19 June 2015}}

In 2017, Poundland were fined £100,000 by Wandsworth Council after inspectors discovered a rodent infestation at the store at Southside Shopping Centre in Wandsworth Town that was so bad some of the rats were dead.{{cite web |title=Poundland fined £100k after DEAD RATS found at flagship store {{!}} UK {{!}} News {{!}} Express.co.uk |url=https://www.express.co.uk/news/uk/848972/Poundland-fined-DEAD-RATS-found-flagship-Wandsworth-store/amp |access-date=8 February 2025 |website=www.express.co.uk}} Mouse droppings and evidence of urine were found on food shelves alongside gnawed and soiled packets of biscuits, nuts, sweets and popcorn. Droppings were found throughout the store and in storage areas, including on baby clothes. The store had to be temporarily closed using emergency powers in January 2016, after rodents were also spotted running down the aisles.{{cite web |last=Proto |first=Laura |date=18 January 2016 |title=Poundland branch closed after 'heavy rodent infestation' found |url=https://www.standard.co.uk/news/london/poundland-branch-closed-after-inspectors-uncover-heavy-rodent-infestation-a3159571.html |access-date=8 February 2025 |website=The Standard}}{{cite web |date=18 January 2016 |title=Wandsworth Poundland closed after "heavy infestation" with RODENTS spotted running down aisles |url=https://www.wandsworthguardian.co.uk/news/14212599.southside-poundland-closed-after-heavy-infestation-with-rodents-spotted-running-down-aisles/ |access-date=8 February 2025 |website=Wandsworth Times }}

In response to a news story about a member of staff being sent home for wearing a Remembrance poppy in October 2011,{{cite news |url=https://www.mirror.co.uk/news/uk-news/poundland-forced-to-review-dress-code-276252 |title=Poundland forced to review dress code after claims staff banned from wearing remembrance poppies |work=Daily Mirror |date=29 October 2011 |access-date=21 July 2017}} Poundland posted a comment on their Facebook and Twitter social media stating "Poundland is not against colleagues wearing a poppy; however, colleagues are not allowed to wear one on the shop-floor simply as it does not abide by the uniform rules."{{cite web|url=https://www.facebook.com/Poundland/posts/10150891825905397 |title=Poundland uniform policy bans staff wearing poppies |publisher=Poundland's Facebook page |date=28 October 2011}} Poundland backed down from the ban on 31 October,{{cite web|url=https://www.expressandstar.com/news/2011/10/31/poundland-says-sorry-for-poppy-policy/ |title=Poundland says sorry for poppy policy |work=Express & Star |date=31 October 2011 |access-date=26 November 2013}} and released the statement that employees will be allowed to "use their own discretion in wearing poppies" after hundreds of customers threatened to boycott the store.{{cite news|url=https://www.bbc.co.uk/news/uk-northern-ireland-15507215|title=Poundland u-turn over poppy after complaint from Lisburn employee|work=BBC News|date=29 October 2011}}

In December 2017, Poundland ran a social media campaign with a series of #ElfBehavingBad posts based on humour and double entendres. The Advertising Standards Authority received 85 complaints. The complaints were upheld and Poundland told not to show the posts in their current form again, as well as ensuring their adverts were presented with a sense of responsibility and did not cause offence.{{cite web |url=https://www.asa.org.uk/rulings/poundland-ltd-a17-408906.html |title=ASA Ruling on Poundland Ltd |work=Advertising Standards Agency |date=7 February 2018 |access-date=21 February 2018}}

Poundland planned to open a store in Biggleswade, dubbed "Motherland", the logo featured a similar logo to the retailer Mothercare. On 9 February 2024, Mothercare sent a cease and desist to the discount retailer, the store was renamed to "Parentland" and now uses the same font as the Poundland logo.{{cite web |last=Hill |first=Eloise |date=9 February 2024 |title=Poundland forced to rebrand 'Motherland' after Mothercare cease and desist – Retail Gazette |url=https://www.retailgazette.co.uk/blog/2024/02/poundland-mothercare/ |access-date=9 February 2024 |website=www.retailgazette.co.uk }}

• Pep&Co
• Pound Shop Wars
• Variety store
• Warburg Pincus

{{Reflist|30em}}

{{commons category|Poundland}}

• [http://www.poundland.co.uk Poundland's official website]
• [https://beta.companieshouse.gov.uk/company/08861243 Poundland – Companies House #08861243]
• {{OpenCorp|Poundland}}

{{VarietyStores}}

{{UK supermarkets}}

{{Authority control}}

Category:Arts and crafts retailers

Category:Retail companies of the United Kingdom

Category:Variety stores

Category:Discount shops of the United Kingdom

Category:Companies based in the West Midlands (county)

Category:British companies established in 1990

Category:Retail companies established in 1990

Category:1990 establishments in the United Kingdom

Category:Supermarkets of the United Kingdom

Category:British brands

Category:Warburg Pincus companies