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  • Reuters - UK Focus11 months ago

    Poundland shifts away from one price fits all

    JOHANNESBURG, Dec (Shanghai: 600875.SS - news) 7 (Reuters) - New owner Steinhoff is dropping Poundland's single-price format to sell a broader range of products to thrifty British consumers, the South African company said on Wednesday. Steinhoff, on its own spending spree for no-frills furniture and general merchandise assets in Europe, bought Poundland for $800 million, a deal analysts said would be a prelude to an overhaul at the British retailer. The highly acquisitive firm, which also tried to buy France's Darty PLC and Britain's Home Retail, is adding apparel and footwear products from its Pep&Co chain to Poundland.

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