British retailer Poundstretcher will open its first international store in Dubai and plans to open a further six in the Gulf, after spotting a gap in the market for discount retailers, its general manager for Middle East and Africa has said. Poundstretcher, which saw its 2011 profits soar to GBP£1.4m (US$2.2m) against the previous year’s loss of GBP£7.1m in April, will be the first value retailer to expand outside of the UK and Ireland, Retail Week reported. “There is a gap in the market for discount retailers out there. We think we can make money,” Cliff Lomberg said. The first store, at Madina Mall, will open in two weeks and is expected to be the first of four stores across the UAE, said Lomberg. Poundstretcher, which competes with Poundland and 99p Stores, is looking to double the number of stores in the UK over the next five to six years from 402 at present.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:06 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 16:17 2018 Monday ,12 November
Egypt working on 4-year plan to increase growth rateGMT 12:45 2018 Friday ,09 November
Egyptian agriculture products introduced to Japanese markeGMT 11:42 2018 Friday ,02 November
Turkey's new mega airport, boon for slowing economyGMT 13:42 2018 Monday ,29 October
Egypt's trade volume hits $67.63 bln over 9 monthsGMT 15:13 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 14:46 2018 Thursday ,11 October
Economy and energy dominate agenda in Russian-Slovak relationsMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor