Poundland sales fall amid major store revamp

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Poundland has reported a 4.9% fall in like-for-like sales in the second half of its financial year to 27 March.The company blamed “difficult” market conditions over the last few months and the disruption caused by last year’s takeover of 99p Stores.
The conversion of 99p Stores to Poundland shops will be completed by the end of April, which is “well ahead of plans”, the company said.
Poundland expects the converted stores to add an extra £25m in profits by the end of the current financial year.
For the year to 27 March, it expected underlying profits to be in line with expectations.

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