Pepco news and archive

Poundland owner Pepco ceases operations in Austria

Just two years on from its entry into the region, UK-headquartered Pepco Group NV is discontinuing its business activities in Austria. The retail group, which operated 73 budget stores of the same name in the country, came to the decision after an ongoing and thorough review of its performance concluded that the market did not meet its...

Business

Pepco posts 2.3 percent drop in Q1 like-for-like sales

Pepco Group reported first quarter revenues of 1.9 billion euros with constant currency revenue growth of 11 percent versus last year. However, group like-for-like (LFL) revenues declined 2.3 percent. The company said, Pepco brand LFL revenue fell 3.7 percent, Poundland LFL grew 0.9 percent, with a strong peak Christmas performance driven by...

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Pepco Group: Q4 revenue up 12.5 percent despite 'challenging' trading environment

Discount retail giant Pepco Group has reported strong fourth-quarter revenue growth and record full-year sales despite a “challenging market backdrop”. The group, which owns the Pepco and Dealz brands in Europe and Poundland in the UK, generated revenue of 1.44 billion euros in the three months ended September 30, up 12.5 percent on a...

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Pepco issues ‘downward revision’ to forecast, reorganises management

European retail chain Pepco is continuing to experience a downward trend in its financials, as revenues for August came in lower than anticipated and are worsening in September, with negative like-for-like sales and weaker than expected performance from new stores. The group, which operates UK-based Poundland, has been attempting to initiate an...

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Pepco Group CEO to exit amid retail expansion plans

The chief executive officer of Pepco Group, Trevor Masters, has announced his intention to step down from the top position with immediate effect. It comes as the Polish company, which counts Poundland among its portfolio, reported that its EBITDA for the year ending 30 September 2023 is expected to be “slightly lower” than it had previously...

Business

Pepco expands European footprint, debuts stores in Bosnia and Herzegovina

Pepco Group, owner of the Pepco and Dealz brands across Europe and Poundland in the UK, opened its first store in Bosnia and Herzegovina. Commenting on the retail expansion plan, Trevor Masters, CEO of Pepco Group, said: “The opening of the first Pepco store in Bosnia and Herzegovina represents a milestone in the group’s profitable store...

Business

Pepco Group posts 22.8 percent H1 revenue growth

For the first half period, Pepco Group revenue of 2,839 million euros, rose 22.8 percent compared with prior year on a constant currency basis, while like-for-like (LFL) sales growth was 11.1 percent. The company said LFL growth was driven by a good Christmas peak trading period of 13 percent LFL in the first quarter, followed by a resilient...

Business

Pepco brand to open its first store in Portugal

Discount retailer Pepco Group will open its first Pepco store in Portugal this week, as part of its European store expansion plan. The new Pepco store in Coimbra, which opens on May 18, will be followed by new openings in Albufeira and Olhão during May 2023. Further launches are planned in a number of cities across Portugal over the course of...

Business

Pep&Co to cut UK head office jobs

Pep&Co, British discount fashion retailer, has confirmed it will be cutting 30 jobs at its UK head clothing office in Watford. The decision came after the company proceeded with a formal consultation process amid the ongoing transition to bring its clothing and general merchandise under one brand, Pepco. Last year, Pep&Co, which currently...

Business

Pepco Group delivers Q1 sales growth of 27 percent

Pan-European variety discount retailer, Pepco Group, owner of the Pepco and Dealz brands in Europe and Poundland in the UK, reported first quarter revenues of 1,654 million euros, up 27 percent on a constant currency basis and 24 percent on an actual basis. Group Q1 like-for-like (LFL) growth was 13 percent on a constant currency basis, with all...

Business

Pepco Group posts revenue and profit growth

In its preliminary results statement, pan-European discount retailer Pepco Group said revenue for the year of 4,823 million euros was up 17.4 percent on a constant currency basis and 17 percent on an actual basis. The company has reported like-for-like (LFL) sales growth of 5.2 percent on a constant currency basis. Commenting on the results,...

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Pepco Group to nominate ex-CEO Andy Bond as the next board chairman

Pepco Group, owner of the Pepco and Dealz brands present across Europe and Poundland in the UK, has announced the nomination of Andy Bond as chairman and Neil Galloway as chief financial officer. The company said in a release that the board will propose the appointment of Bond – who was the former CEO of Pepco Group and led it through its...