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99p Stores

Index 99p Stores

99p Stores Ltd. was a family run business founded in January 2001 by entrepreneur Nadir Lalani, who opened the first store in the chain in Holloway, London, with a further three stores opening later that year. In 2002, Lalani decided to expand the business throughout the UK and has rapidly developed 99p Stores, operating a total of 129 stores as of March 2010 and serving around 1.5 million customers each week, undercutting their main rival Poundland by a penny. As of mid-2009 the company offered more than 3,500 different product lines throughout its stores. Most of their stores are based in the south of the UK, although there are stores as far north as Liverpool and Hartlepool. The chain saw accelerated store expansion upon the collapse of Woolworths Group, where they took the opportunity to acquire 15 of these former stores, increasing their estate to 79 at that time. Landlords are now regarding 99p Stores as an anchor tenant due to the significant number of customers one of their stores can bring to a location. Although the retailer made a pre-tax loss of £1.14 million in the year to 31 January 2007, they claim that, since then, consumers have become more cautious with their money and where they spend it, in response to the current economic conditions. The retailer has noticed an increase of customers from the wealthier AB social grade (a system of demographic classification used in the United Kingdom) during the recession. Customers tend to speak positively about 99p Stores, with most reviewers noting customer and product overcrowding as their biggest criticisms, yet still rate the chain 4.5/5 on average. In February 2015, Poundland agreed to buy 99p Stores for £55 million, with regulatory approval received in September 2015. The 99p Stores fascia began being phased out in favour of Poundland branding from late 2015. [1]

83 relations: Acton, London, Anchor store, Barclays, Berkshire, Bracknell, British Muslim Awards, Bulk confectionery, Cake, Carmarthen, Chain store, Chairman, Clacton-on-Sea, Colgate (toothpaste), Confectionery, Contactless payment, Convenience store, Cotswolds, Critic, Crowd control, Daventry, Demography, Do it yourself, Earnings before interest and taxes, Eastleigh, Egg as food, Entrepreneurship, Facebook, Far East, Final good, Financial capital, Financial crisis of 2007–2008, Frying pan, Great Recession, Gross margin, Gross profit, High Street, Holloway, London, Independent business, Inflation, Initial public offering, Landlord, Liverpool, Lloyds Bank, London, Magistrates' court (England and Wales), Market share, Muswell Hill, Mwanza, Net income, Northamptonshire, ..., NRS social grade, Overcrowding, Penny (British decimal coin), Pepsi, Petersfield, Pilot experiment, Point of sale, Poole, Pound Shop Wars, Poundland, Poundworld, Pringles, Private limited company, Product recall, Retail, Retail Week, Seaside resort, Sellotape, Snob, Sting operation, Stock management, Stroud, Tanzania, The Grocer, Touchscreen, Tourism, Trading Standards, Value-added tax, Variety store, Wales, West Ealing, Wilko (retailer), Woolworths Group. Expand index (33 more) »

Acton, London

Acton is an area of west London, England, within the London Borough of Ealing.

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Anchor store

In retail, an anchor store, draw tenant, anchor tenant, or key tenant is one of the larger shops in a shopping centre, usually a department store or a major retail chain that has a broad appeal to a wide customer base.

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Barclays

Barclays plc is a British multinational investment bank and financial services company headquartered in London.

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Berkshire

Berkshire (abbreviated Berks, in the 17th century sometimes spelled Barkeshire as it is pronounced) is a county in south east England, west of London and is one of the home counties.

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Bracknell

Bracknell is a town and civil parish in Berkshire, England, the westernmost area within the Greater London Urban Area and the administrative centre of the Borough of Bracknell Forest.

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British Muslim Awards

British Muslim Awards is an annual award ceremony that honours the success and achievements of Britain's Muslim individuals, groups and businesses.

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Bulk confectionery

Bulk confectionery is a method of commercially dispensing multiple small units of confectionery, either in manufactured bags with a fixed number of units per container, or by the amount of mass placed in a bag.

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Cake

Cake is a form of sweet dessert that is typically baked.

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Carmarthen

Carmarthen (Caerfyrddin, "Merlin's fort") is the county town of Carmarthenshire in Wales.

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Chain store

Chain store(s) or retail chain(s) are retail outlets that share a brand and central management, and usually have standardized business methods and practices.

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Chairman

The chairman (also chairperson, chairwoman or chair) is the highest officer of an organized group such as a board, a committee, or a deliberative assembly.

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Clacton-on-Sea

Clacton-on-Sea is the largest town in the Tendring peninsula and district in Essex, England, and was founded as an urban district in the year 1871.

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Colgate (toothpaste)

Colgate is an umbrella brand principally used to sell oral hygiene products such as toothpastes, toothbrushes, mouthwashes and dental floss.

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Confectionery

Confectionery is the art of making confections, which are food items that are rich in sugar and carbohydrates.

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Contactless payment

Contactless payment systems are credit cards and debit cards, key fobs, smart cards, or other devices, including smartphones and other mobile devices, that use radio-frequency identification (RFID) or near field communication (NFC, e.g. Samsung Pay, Apple Pay, Google Pay, Fitbit Pay, or any bank mobile application that support Contactless) for making secure payments.

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Convenience store

A convenience store or convenience shop is a small retail business that stocks a range of everyday items such as groceries, snack foods, confectionery, soft drinks, tobacco products, over-the-counter drugs, toiletries, newspapers, and magazines.

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Cotswolds

The Cotswolds is an area in south central England containing the Cotswold Hills, a range of rolling hills which rise from the meadows of the upper Thames to an escarpment, known as the Cotswold Edge, above the Severn Valley and Evesham Vale.

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Critic

A critic is a professional who communicates an assessment and an opinion of various forms of creative works such as art, literature, music, cinema, theater, fashion, architecture, and food.

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Crowd control

Crowd control is a public security practice where large crowds are managed to prevent the outbreak of crowd crushes, affray, fights involving drunk and disorderly people or riots.

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Daventry

Daventry (historically) is a market town in Northamptonshire, England, with a population of 25,026.

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Demography

Demography (from prefix demo- from Ancient Greek δῆμος dēmos meaning "the people", and -graphy from γράφω graphō, implies "writing, description or measurement") is the statistical study of populations, especially human beings.

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Do it yourself

"Do it yourself" ("DIY") is the method of building, modifying, or repairing things without the direct aid of experts or professionals.

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Earnings before interest and taxes

In accounting and finance, earnings before interest and taxes (EBIT) is a measure of a firm's profit that includes all expenses except interest and income tax expenses.

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Eastleigh

Eastleigh is a town in Hampshire, England, between Southampton and Winchester in South Hampshire.

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Egg as food

Eggs are laid by female animals of many different species, including birds, reptiles, amphibians, mammals, and fish, and have been eaten by humans for thousands of years.

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Entrepreneurship

Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business.

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Facebook

Facebook is an American online social media and social networking service company based in Menlo Park, California.

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Far East

The Far East is a geographical term in English that usually refers to East Asia (including Northeast Asia), the Russian Far East (part of North Asia), and Southeast Asia.

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Final good

In economics, any commodity which is produced and subsequently consumed by the consumer, to satisfy his current wants or needs, is a consumer good or final good.

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Financial capital

Financial capital is any economic resource measured in terms of money used by entrepreneurs and businesses to buy what they need to make their products or to provide their services to the sector of the economy upon which their operation is based, i.e. retail, corporate, investment banking, etc.

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Financial crisis of 2007–2008

The financial crisis of 2007–2008, also known as the global financial crisis and the 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.

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Frying pan

A frying pan, frypan, or skillet is a flat-bottomed pan used for frying, searing, and browning foods.

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Great Recession

The Great Recession was a period of general economic decline observed in world markets during the late 2000s and early 2010s.

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Gross margin

Gross margin is the difference between revenue and cost of goods sold (COGS) divided by revenue.

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Gross profit

In accounting, gross profit, gross margin, sales profit, or credit sales is the difference between revenue and the cost of making a product or providing a service, before deducting overheads, payroll, taxation, and interest payments.

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High Street

High Street (or the High Street, also High Road) is a metonym for the concept (and frequently the street name) of the primary business street of towns or cities, especially in the United Kingdom and Commonwealth of Nations.

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Holloway, London

Holloway is an inner-city district of the London Borough of Islington, north of Charing Cross, which follows the line of the Holloway Road (A1).

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Independent business

An independent business is a business that is free from outside control.

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Inflation

In economics, inflation is a sustained increase in price level of goods and services in an economy over a period of time.

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Initial public offering

Initial public offering (IPO) or stock market launch is a type of public offering in which shares of a company are sold to institutional investors and usually also retail (individual) investors; an IPO is underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges.

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Landlord

A landlord is the owner of a house, apartment, condominium, land or real estate which is rented or leased to an individual or business, who is called a tenant (also a lessee or renter).

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Liverpool

Liverpool is a city in North West England, with an estimated population of 491,500 in 2017.

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Lloyds Bank

Lloyds Bank plc is a British retail and commercial bank with branches across England and Wales.

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London

London is the capital and most populous city of England and the United Kingdom.

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Magistrates' court (England and Wales)

In England and Wales, a magistrates' court is a lower court which holds trials for summary offences and preliminary hearings for more serious ones.

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Market share

Market share is the percentage of a market (defined in terms of either units or revenue) accounted for by a specific entity.

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Muswell Hill

Muswell Hill is a suburban and low-rise urban district of the north, outer London Boroughs of Haringey and – a small part only – Barnet.

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Mwanza

Mwanza is a mid-sized port city on the southern eastern shores of Lake Victoria in north western Tanzania.

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Net income

In business, net income (total comprehensive income, net earnings, net profit, informally, bottom line) is an entity's income minus cost of goods sold, expenses and taxes for an accounting period.

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Northamptonshire

Northamptonshire (abbreviated Northants.), archaically known as the County of Northampton, is a county in the East Midlands of England.

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NRS social grade

The NRS social grades are a system of demographic classification used in the United Kingdom.

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Overcrowding

Overcrowding or crowding refers to the condition where more people are located within a given space than is considered tolerable from a safety and health perspective which will depend on current environment and local cultural norms.

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Penny (British decimal coin)

The British decimal one penny (1p) coin, usually simply known as a penny, is a unit of currency equaling one one-hundredth of a pound sterling.

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Pepsi

Pepsi is a carbonated soft drink produced and manufactured by PepsiCo.

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Petersfield

Petersfield is a market town and civil parish in the East Hampshire district of Hampshire, England.

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Pilot experiment

A pilot study, pilot project, or pilot experiment is a small scale preliminary study conducted in order to evaluate feasibility, time, cost, adverse events, and improve upon the study design prior to performance of a full-scale research project.

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Point of sale

The point of sale (POS) or point of purchase (POP) is the time and place where a retail transaction is completed.

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Poole

Poole is a large coastal town and seaport in the county of Dorset, on the south coast of England.

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Pound Shop Wars

Pound Shop Wars is a British factual television series that was first broadcast on BBC One from 7 November 2012 until 30 September 2015.

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Poundland

Poundland is a British variety store chain founded in 1990, with a single price-point on most items costing £1, including clearance items as well as proprietary brands.

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Poundworld

Poundworld is a British value variety store that sells most of its items for £1.

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Pringles

Pringles is an American brand of potato and wheat-based stackable snack chips owned by Kellogg's.

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Private limited company

A private limited company is a type of business entity in "private" ownership used in many jurisdictions in contrast to "public" ownership, with some differences from country to country.

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Product recall

A product recall is a request to return a product after the discovery of safety issues or product defects that might endanger the consumer or put the maker/seller at risk of legal action.

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Retail

Retail is the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit.

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Retail Week

Retail Week is a UK-based news magazine, website and data service covering the retail industry.

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Seaside resort

A seaside resort is a resort town or resort hotel, located on the coast.

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Sellotape

Sellotape is a British brand of transparent, polypropylene-based, pressure-sensitive tape, and is the leading brand in the United Kingdom.

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Snob

Snob is a pejorative term for a person that believes there is a correlation between social status and human worth.

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Sting operation

In law enforcement, a sting operation is a deceptive operation designed to catch a person committing a crime.

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Stock management

Stock management is the function of understanding the stock mix of a company and the different demands on that stock.

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Stroud

Stroud is a market town and civil parish in the centre of Gloucestershire, England.

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Tanzania

Tanzania, officially the United Republic of Tanzania (Jamhuri ya Muungano wa Tanzania), is a sovereign state in eastern Africa within the African Great Lakes region.

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The Grocer

The Grocer is a British magazine devoted to grocery sales, published by William Reed Business Media.

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Touchscreen

A touchscreen is an input and output device normally layered on the top of an electronic visual display of an information processing system.

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Tourism

Tourism is travel for pleasure or business; also the theory and practice of touring, the business of attracting, accommodating, and entertaining tourists, and the business of operating tours.

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Trading Standards

In the United Kingdom, Trading Standards are the local authority departments, formerly known as Weights and Measures, that enforce consumer protection legislation.

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Value-added tax

A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of tax that is assessed incrementally, based on the increase in value of a product or service at each stage of production or distribution.

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Variety store

A variety store (also pound shop, dollar store, and other names) is a retail store that sells a wide range of inexpensive household goods.

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Wales

Wales (Cymru) is a country that is part of the United Kingdom and the island of Great Britain.

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West Ealing

West Ealing is a district in the London Borough of Ealing, in west London.

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Wilko (retailer)

Wilko Retail Ltd. (formerly Wilkinson Hardware Stores) is a British high-street chain which sells homewares and household goods.

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Woolworths Group

Woolworths Group was a listed British company that owned the high-street retail chain, Woolworths.

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Redirects here:

99p Stores Limited, 99p Stores Ltd., 99p store, 99p stores.

References

[1] https://en.wikipedia.org/wiki/99p_Stores

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