Pepco Group news and archive

Poundland eyeing mass store closures amid ongoing turnaround plan

Poundland is said to be mulling the closure of between 150 and 200 stores amid an ongoing turnaround plan being carried out as its sales process continues. According to the Telegraph, the budget retailer is also eyeing up to 500 sites for rent cuts, with a plan to impose rent reductions on landlords between 10 and 50 percent. Other agreements...

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Pepco Group to spin off Poundland, focus on Pepco brand

To pivot away from its FMCG-reliant segments, Pepco Group intends to actively evaluate all strategic options for separating Poundland from the Group during FY25, including a potential sale, while concurrently managing Dealz Poland to optimize its value in the medium term. This strategic shift is motivated by the financial drag exerted by the...

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Pepco Group continues to address supply chain issues

Discount retailer Pepco Group said that the year-to-date Pepco business was impacted by supply chain issues, affecting the consistent and timely availability of stock in stores. Poundland and Dealz were also affected by the transition to Pepco-sourced clothing and general merchandise, which is being addressed and initial benefits are expected to...

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Pepco Group posts Q3 revenue growth, maintains outlook

Discount retailer Pepco Group’s year to date revenue of 4,681 million euros increased 10 percent at constant currency, while third quarter revenue of 1,481 million euros, increased 8 percent. The company, owner of the Pepco and Dealz brands in Europe and Poundland in the UK reported a like-for-like (LFL) revenue decline of 4.3 percent in the...

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Pepco Group posts Q2 revenues growth, names new CEO

Discount retailer Pepco Group, which owns the Pepco and Dealz brands in Europe and Poundland in the UK, reported second quarter revenue of 1,349 million pounds, up 11.7 percent, while like-for-like sales were down 2.9 percent. In the first half, revenue of 3,200 million pounds with constant currency growth of 11 percent versus last year, while...

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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 reports sales growth, profit declines

European discount retailer Pepco Group reported FY23 revenue of 5,649 million euros, up 17.7 percent on a constant currency basis, driven by Pepco growth of 24.8 percent and Poundland Group growth of 8.4 percent. The company’s like-for-like revenues grew 6 percent during the year under review with Pepco growth of 6.3 percent and Poundland Group...

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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 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...

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Pepco Group delivers strong sales growth of 22.8 percent

Discount retailer Pepco Group, owner of the Pepco and Dealz brands in Europe and Poundland in the UK, reported first half revenue of 2,839 million euros, up 22.8 percent on a constant currency basis, driven by 36.9 percent growth at Pepco brand. The company said that like-for-like (LFL) revenues for the period were up 11.1 percent, with 8.5...

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Pepco Group posts strong H1 revenue, profit growth

Discount retailer Pepco Group has reaffirmed its full-year guidance after reporting strong revenue and profit growth in the first half of the year. In the six months to March 31, revenue increased 18.9 percent year-on-year to 2.372 billion euros. The group, which owns the Pepco and Dealz brands in Europe as well as Poundland in the UK, said...

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Andy Bond to step down as Pepco CEO

Pepco Group, the variety discount retailer and owner of Poundland in the UK and the Pepco and Dealz brands in Europe, has announced that Andy Bond is stepping down as chief executive at the end of March due to health reasons. Bond, who was previously chief executive of Asda, took the helm at Pepco Group in 2015 and has guided the business...