Poundland

[redruby]

Apparently “Pepco Group, owners of Poundland in the UK, released its preliminary annual results for the year ending 30 September 2022. The results showed strong group sales, with revenue increasing by 17.4% to €4.82 bn”

Also have a read of this https://www.thisismoney.co.uk/money/markets/article-11994219/amp/Poundland-owner-Pepco-Group-sees-bumper-revenue-growth.html 

Now I don’t for a moment have a problem with them being profitable but not profiteering. Clearly they are not struggling under the cost of living crisis but are positively thriving under it.  
As I said before, I don’t think anyone is daft enough to think they charge £1 for everything forever but sudden 50% price rises? Hmmm

 

[cressida]

Best item I bought from Poundland was a small drum kit,  size of a small laptop,  three drums and cymbals,  bargain.

[fools]

6 hours ago, redruby said:

The results showed strong group sales, with revenue increasing by 17.4% to €4.82 bn”

ore

Bit simplistic to link some revenue figures for a particular period to the price of crisps. They've been opening 100's of new stores all over Europe, so you'd expect turnover and profits to rise.

[redruby]

2 hours ago, fools said:

Bit simplistic to link some revenue figures for a particular period to the price of crisps. They've been opening 100's of new stores all over Europe, so you'd expect turnover and profits to rise.

I wasn’t doing that, I was merely pointing out that cost of living increases are doing no harm to Poundland’s profits and they appear to be thriving.  However, despite the multitude of factors involved, I’m sure that increasing the prices of many of their products by 50% will have played its part when they are selling them in huge volumes.  

[fools]

3 minutes ago, redruby said:

I wasn’t doing that, I was merely pointing out that cost of living increases are doing no harm to Poundland’s profits and they appear to be thriving.  However, despite the multitude of factors involved, I’m sure that increasing the prices of many of their products by 50% will have played its part when they are selling them in huge volumes.  

I don't know what the scale of the increases are at this shop, but I know other supermarkets have increased some goods by double, but still only manage a 4% or thereabouts profit margin - so whilst it might look like profiteering, it really isn't.. Costs have gone up, so prices go up.

[redruby]

I know some shops are struggling but clearly Poundland isn’t one them.  I don’t honestly don’t know if Poundland is profiteering although it has raised suspicions. However, there have been concerns raised about profiteering by various businesses on the back of ‘cost of living increases’ and it is being taken seriously https://www.thegrocer.co.uk/cost-of-living-crisis/cma-could-investigate-supermarkets-for-alleged-cost-of-living-profiteering/678803.article

 

Edited June 2, 2023 by redruby