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Budget retailer Poundland has reported annual sales of more than £1bn. (April 2018)
Budget retailer Poundland has reported annual sales of more than £1bn. (April 2018)
Total sales in the UK and Republic of
Ireland rose by 11.8% to £1.1bn, helped by the opening of 60 new stores.
Like-for-like revenues - which strip
out the impact of new stores - rose 2.4% in the year to 29 March.
The
company said it continued "to carefully consider" a UK competition authority
probe of its proposed acquisition of
rival discount chain 99p Stores.
Chief executive Jim McCarthy said:
"Despite tough trading conditions, Poundland continues to perform well and
we served an average of 5.3 million shoppers a week during the quarter."
Poundland will report its full-year
results on 18 June, and said it expected underlying pre-tax profits to be in
line with market forecasts of about £44m.
1. Assess the possible impact on Poundland of changes
to the UK business cycle. [8]
2. Poundland is very reliant on supplies of imported
goods. Assess how changes in the value of the pound could affect the businesses
operations. You are encouraged to use numerical examples in your answer. [10]
