Poundworld to launch convenience "express" stores
Now discount chain Poundworld is launching a string of convenience-style shops to capitalise on the popularity of cut-price retailers.
The new Poundworld Express stores will be smaller than its current shops and focus on a range of around 1,000 items. The Express stores will debut this month in Wakefield, Yorkshire, where the chain's first shop opened in 1974.
Poundworld Express is the latest development in Poundworld's aggressive ongoing expansion.
As well as its Poundworld brand, which remains its key focus for expansion, it launched the multi-price store Discount UK in 2010, which now has 17 stores in the UK.
A spokeswoman for Poundworld told the Daily Mail that Discount UK was performing "exactly as expected" but the multi-price format had generated challenges for the company as "customer count is lower than the single price format and margins remain tight".
The company has not revealed how many Express stores it plans to open.
Discount retailers have bucked the trend of falling sales seen on the high street. Budget grocer Aldi has seen a 20.2% increase in sales compared with a year ago, while Lidl is up 15%.
Chris Edwards Jr, trading director at Poundworld, said the chain already had outlets in 120 towns and looked to expand its reach with the new shops.
He added: "The store will offer our most popular items at the same recession-busting prices. We hope this will be a one-stop shop for people hoping to grab everyday essentials."