Poundstretcher is taking advantage of the “opportunity on the high street” with plans to dramatically ramp up its store estate.
The discount retailer opened 40 stores over the last three months and is planning to open a further 40 before April next year.
Looking further ahead, Poundstretcher said it planned to open a further 120 stores by April 2020, and have a total of 800 two years later. Property director Gerry Loughran said Poundstretcher had benefited from the issues battering the wider high street.
Poundworld’s collapse earlier this year, which happened after Poundstretcher attempted to buy it, has reportedly driven a massive spike in like-for-like sales in nearby stores.
“We see ample opportunity on the high street now with the dip in the rental cost for better property and the size available”
