​Poundstretcher has slashed prices on hundreds of products in-store as part of its summer sale

The news arrives following the retailer’s decision to make 1,000 permanent price cuts on a range of household, cleaning, health and beauty and storage items.

It has also introduced over 500 branded products into stores with a range of 99p “super deals”.

The initiatives have come into effect since Poundstretcher was acquired by Fortress Investment Group in April this year, which also owns Majestic Wine, Vagabond Wines and Punch Pubs Group in the UK.

The discounter has reduced the prices of everyday products, including reading glasses, which were 99p down to 69p, and a three-metre iPhone cable, which now costs 89p down from £1.85. The price of Kleenex tissues has been slashed 39% from £1.79 to £1.09.

Poundstretcher will also be running an event next weekend on September 7 and 8 where customers will have the chance to win a £10 shopping voucher every hour. This follows the success of the retailer’s last Mega Giveaway Weekend event at the beginning of August.

Chief executive Andy Atkinson said: “We’re committed to continually helping our customers through the ongoing cost-of-living crisis.

“I’m pleased to be offering them the opportunity to save money with the terrific savings in our Summer Sale, with up to 75% off hundreds of products.

“Our weekend of winners’ event is exciting and fun, and an opportunity for thousands of customers up and down the country to win a £10 shopping voucher. We enjoy surprising and delighting customers, and we know this will do exactly that.”