Shares in retailer plunge 12% as analysts horror company’s strong growth during recession is over amid an increasingly saturated discount marketPoundland has become the latest victim of the switch to online shopping in the run-up to Christmas,warning that profits for the year will be at the lower end of expectations.
Shares in the discount retailer fell by more than 12% amid concerns that the strong growth enjoyed by Poundland and other discounters during the recession may be over. The shares are now changing hands at 167p – compared with their float price of 300p less than two years ago, and 60% off their 419p peak in February last year. Related: tall street retailers feel the pinch as shoppers stay at domestic Continue reading...
Source: theguardian.com