Pepco news and archive

Pepco chair exits as new governance changes are prepared

Andy Bond, the chairman of Pepco Group, has announced his intention to step down from the budget retail conglomerate following the company’s upcoming AGM on 12 March. Bond’s departure comes after 13 years with Pepco, which then revealed that Frederick Arnold was to be his successor. Arnold is currently a non-executive director at the company,...

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Former Poundland MD to return as Pepco reviews business

Barry Williams, the former managing director of Poundland, is understood to have returned to the board of the struggling budget retail chain as its parent company, Pepco Group, reviews the business. According to a report by The Grocer, Williams is believed to have taken up a supervisory role on an interim basis to run a “comprehensive assessment...

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Pepco reportedly calls in advisors to explore ‘radical options’ for Poundland

Pepco Group, the Polish owner of budget store chain Poundland, is believed to have appointed advisory firm AlixPartners to address an ongoing sales slump at the firm. According to Sky News, Pepco has hired consultants to explore “radical options” for Poundland, with a formal restructuring plan or a potential sale of the business said to be among...

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Poundland Struggles in Q3; Pepco Group plans revival

European discount retailer Pepco Group delivered first quarter revenue of 1.9 billion euros, with constant currency growth of 3 percent versus last year. However, LFL revenues declined 1.1 percent, with a positive performance from both Pepco and Dealz offset by continued challenges in the Poundland business. In December the company’s CEO Stephan...

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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...

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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...

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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 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...

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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...

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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 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...