When is a single price retailer not a single price retailer?
Jim McCarthy the outgoing Chief Executive of Poundland has announced a major shake up to the normal Poundland formula: the introduction of a trial of multi-price stores.
Speaking live at Retail Week he explained that with the acquisition of the 99p Stores estate Poundland has inherited 27 “very large” stores, formerly branded as Home Bargains. With the additional space, it has been decided they will use these stores as trials for multi-price products.
However the news was accompanied by an important caveat. McCarthy also warned “There are some great multi-price retailers already doing wonderful stuff. It’s not an easy market. If it works, great, if it doesn’t we kill it.”
Possible names being considered apparently include Poundland Plus and Poundland Extra.