Budget retailer Poundland saw record sales over the Christmas period, putting pressure on the supermarket sector. In the 13 weeks to December 31st, the retailer saw sales increase 12.4% with “good” like-for-like results.

Jim McCarthy, chief executive, said: "Poundland’s single price point and our amazing value clearly resonated with shoppers everywhere.

“There are structural changes underway in consumer shopping behaviour and I’m very pleased that Poundland continues to play a leading role in the growth of the discount sector.

"As the appreciation and appeal of our amazing value gains further momentum, I’m more confident than ever that in due course Poundland is on track to operate over 1,000 stores in the UK."