First 179 words of the document:
UK consumers love the sound of a pound. In the last 10 years, everything-for-£1
stores have flooded into the High Street.
In 1999, there were 380 pound shops in the UK. By the end of 2009, that number had
grown to 742, according to a report from information services company Experian.
Poundland, which plans to open one new shop a week in the next year, is revelling in a
successful Christmas period, having seen a 4.4% rise in sales in stores that were also
open a year ago.
This, Mr de Mello says, is the result of well-established discount retailers taking the
opportunities that have arisen from other chains' difficulties in the recession, such as
"Since the recession hit, higher numbers of shop units have become vacant and it has
become easier for discount and value offer shops to pick up better quality space at a
good price," he says.