article_snippet.sent: The budget retailer last week announced that sales exceed £1billion for the first time last year becoming Europe's largest single-price discount retailer.
article_snippet.sent: Company's success has been put down to shoppers hunting bargains and taking sales away from Britain's four big supermarkets, Asda, Tesco, Sainsburys and Morrisons.
article_snippet.sent: Originally founded by entrepreneur Steve Smith in 1990, £1 in the budget brand snowballed from a small private enterprise into a High Street revolution, which involves buying up unwanted stock and end-of-lines, then swiftly getting them into the shops to sell cheaply.
article_snippet.sent: Poundland has snowballed from a small private enterprise into a High Street revolution, which involves buying up unwanted stock and end-of-lines (file picture) '
article_snippet.sent: Back then, shoppers were beginning to desert the High Street for superstores, but Mr Smith and Mr Smith Poundland chain - which Mr Smith sold in 2000 for £50million - were a lifeline that helped keep Poundland afloat.
highlights_snippet.sent: Comes as Poundland announced sales exceed £1bn for first time last year .
  
highlights_snippet.sent: Company's success has been put down to shoppers hunting for bargains .