UK-based Pepco Group is on a fast track to expansion and the pan-European discount retailer has a new chief operating officer to speed up the process. Trevor Masters is being promoted on 1 January from MD of Pepco.
This week has brought a number of moves in the property sector as Landsec said on Friday that it has sold two retail parks, while a joint venture acquired Martineau Place shopping centre in Birmingham.
The owner of the discount chains Pepco, Poundland and Dealz, Pepco Group, plans to create about 13,000 net new jobs across Europe over the next three years as it aggressively opens new stores, its boss told Reuters.
Poundland, Pepco and Dealz owner Pepco Group has seen a 16.8% increase in core earnings, as revenue growth from new store openings offset pandemic closures. The company also operates the budget Pep&Co fashion brand.
Pep&Co continues to be a strong retail pillar for Poundland.The UK discount giant is backing the success of its budget clothing brand, opening two standalone stores in the Midlands as part of wider growth plans.
So far, 350 open, 50 more planned. Discount chain Poundland is on the way to reaching its target of operating 400 Pep&Co fashionwear shop-in-shops across the UK and Ireland (where it trades as Dealz) by September.