Poundstretcher owner delivers mixed message in UK

Poundstretcher owner Instore today said it had more than halved half-year losses after a sweeping restructure at the group.

Interim pre-tax losses were trimmed from £11.6m (€16.6m) to £5.3m (€7.6m), with like-for-like sales up 4.3% in a “very good start to the year”, according to the group.

But Huddersfield-based Instore said trading had since slipped and a product offering overhaul would not start to reap rewards until the first half of its next financial year.