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Poundland, the discount retailer famous for selling all of its products for £1, is hoping to open over 50 new shops this year and expects to create 2,000 new full and part time jobs in the process.

Poundland already trade from over 260 stores but plan to increase their outlets to over 300 by the end of the year. There are further ambitions to take their total number of stores to around 800 in the coming few years.

Poundland has over 7,500 staff working in full and part time jobs at the moment and around 2,000 of those were created as Poundland opened 56 new outlets last year. They hope that the same number of full and part time jobs can be opened up again with their further expansion this year.

Much of the impetus behind their current expansion plans has been put down to the fact that consumers have surged through Poundland’s tills looking for bargains in the tougher economic climate of the last couple of years. There are now an estimated three million customers visiting a Poundland shop each week to buy food, household items and health and beauty products.

Chief executive of Poundland, Jim McCarthy, said: "With the economic uncertainty continuing, we are seeing many more first time shoppers joining our... customer base and with this trend set to continue, I remain confident of our prospects for the current financial year." And confident he should be too. Earlier this month Poundland announced an increase in turnover of almost 30 per cent to over £500 million. Annual operating profits were up an amazing 81 per cent to top the £20 million mark.

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