Poundland news and archive

Pepco mulls strategic options for struggling Poundland

Following a lacklustre financial year at Poundland, the UK discount retailer has now come under the lens of its parent company, Pepco Group, which is hoping to initiate a turnaround in its performance. Speaking to Reuters, Pepco’s new chief executive officer, Stephan Borchert, said the company was looking into “every strategic option” for the...

Business

Pepco Group records strong FY24 financial results

European variety discount retailer Pepco Group, in its preliminary unaudited results statement for the 12 month period said that revenue of 6.2 billion euros, increased by 10.2 percent, driven by new store growth. Like-for-like (LFL) revenue declined by 3.2 percent during FY24. Pepco revenue increased by 14.2 percent; Poundland by 0.2 percent...

Business

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...

Business

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...

BusinessFeatured

Pepco sees low revenues for Poundland clothing as retailer falls behind expectations

European discount conglomerate Pepco Group has reported its interim results for the six-month period ended March 31, 2024, during which time it saw revenues rise 13.8 percent year-on-year to hit 3.2 billion euros. While the group itself welcomed positive results for the business as a whole, with group EBITDA up 28.2 percent and gross margin...

BusinessFeatured

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...

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...

BusinessFeatured

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...

BusinessFeatured

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...

BusinessFeatured

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...

BusinessFeatured

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...

BusinessFeatured

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...