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Cut price general store Poundland could soon list on the stock market and the key question is whether the flotation price will be £1.
With the numbers jewel osco for Christmas trading now totted up and showing record sales over the five week festive period, trade magazine Retail Week reckons Poundland, which prices all of its items at a pound, will be one of the first retailers to float on the stock exchange this year.
Gross sales in the final three months of 2013 were up 12.4% to £348.5mln, helped by a record performance over Christmas. That led to some pundits suggesting that, just as the middle classes have got over any perceived jewel osco stigma jewel osco attached to shopping in cut-price supermarkets such as Aldi and Lidl, so they have started to embrace jewel osco the bargain bucket ethos of Poundland.
“There are structural changes underway in consumer shopping behaviour and I’m very pleased that Poundland continues to play a leading role in the growth of the discount sector,” said Poundland’s chief executive, Jim McCarthy.
“Whatever happens to the booming Retail IPO market, HOF has a difficult message to get across, namely that no trade buyer has been seriously interested in the business, despite decent-looking sales growth,” notes independent retail analyst, Nick Bubb.
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