
Pepco Group has targeted 400 store openings across Europe in its 2020-21 financial year as it expands its PEPCO brand beyond central and eastern Europe, its boss said on Friday.
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Pepco Group has targeted 400 store openings across Europe in its 2020-21 financial year as it expands its PEPCO brand beyond central and eastern Europe, its boss said on Friday.
Poundland and Dealz owner Pepco had a good Christmas quarter compared to many in the UK and European retail sectors. But same-store sales still fell 2.1% due to pandemic-linked store closures. Reported revenue rose 9.1%.
The problems afflicting the UK high street have been illustrated by news from the Local Data Company (LDC) that showed a quarter of former BHS stores remain vacant, even though the retailer collapsed in 2016.
South African retailer Steinhoff International Holdings on Friday reported a 6% decline in sales for the nine-months to June 30, due to COVID-19-related trading restrictions imposed worldwide.
Budget retailer Poundland has announced a major new transformation programme designed to take it through the next decade. The programme will also see the company testing out online delivery for the first time.
Warnings that the UK retail environment will remain challenging during the rest of the year may deter many large chains from investing in bricks-and-mortar but Poundland is planning to open six new Pep&Co shop-in-shops.
Scandal-hit South African retail conglomerate Steinhoff International Holdings NV on Tuesday reported a bigger full-year loss, as it tries to recover from a $7 billion accounting fraud.
Pan-European value retailer Pepco Group has had a reasonably good first half, despite the pandemic, as many stores were able to operate during lockdowns due to them selling essentials as well as non-essential goods.
Poundland has revealed that 26 further stores will be reopening across the UK this week after they shut following the coronavirus outbreak.
The discount chain is preparing to open 36 stores across the UK next week as the country starts to show signs of gradual return to normalcy.