Huffpost UK uk

Poundland To Start Charging 97p In Stores Being Undercut By 99p Rivals

Posted: Updated:

In a move likely to rock the very foundations of your belief in the UK high street, Poundland has announced it is to 'slash' its prices - to 97p.

Jim McCarthy, chief executive of the bargain emporium chain, announced the move as an attempt to fend off competition from the proliferation of 99p stores.

The price change will only affect stores where there is nearby competition from an undercutting rival.

poundland 97p

Would 3p difference make you shop elsewhere?

McCarthy told Retail Week: "... it sends the message that we’re not a soft touch. It’s a bit like when a supermarket has a competitor opening nearby.

"They have hosts of tactics to dampen the impact."

Poundland has managed to survive economic uncertainty so far and is currently running a competition to win £400 in vouchers to celebrate the opening of its 400th store.

The chain made headlines in February when a government scheme requiring jobseekers to work for free for the store was unlawful.

Suggested For You

Suggest a correction

Around the Web

The penny price war: Poundland slashes prices to 97p to undercut 99p shop rivals

Our green and pleasant Poundland? It will be if Mr Pickles calls the tune

A new retail rivalry takes hold as Poundland fights back against 99p Stores