A leading retail analyst has said that the Christmas period has 'not resulted in a strong start' to the year for single price retailer Poundland, despite the business posting like-for-like growth of 0.4% in the first quarter of its financial year.
Poundland's first quarter performance was revealed in the Q1 figures for parent firm Pepkor Europe, which were announced yesterday.
"On the face of it, the results are positive: revenues were up £2.8 million to £457.6 million, and Poundland also reported store growth of 0.2%, implying a modest 0.4% increase in like-for-like sales," commented Hannah Thomson, senior retail analyst at GlobalData.
