Warnings of a profit crisis for retailers as margins shrink in the past decade June 14, 2022 Retail profit margins will plunge to 5.1 per cent in 2022, the lowest level in a decade. Excluding the initial impact of the Covid 19 pandemic and related shop closures, profit margins will drop to the lowest level in a decade, down from 8.3 per cent in 2021. Some 57 per cent of UK consumers [...]
Retailers tumble as investors fret over spending squeeze June 9, 2022 Retailers took a tumble in London today driven by investors fretting over the impact of the cost of living crunch on the sector’s bottom line. The capital’s premier FTSE 100 index slid 1.54 per cent to 7,476.21 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
Poundland owner: UK shoppers particularly wounded by higher bills due to stagnant wage growth June 9, 2022 Poundland owner Pepco has said consumers in the UK have been particularly wounded by higher costs of living, impacting spending. Pepco, which also owns discount retailer Dealz, said higher wages in Central and Eastern European markets were significantly offsetting inflationary pressures. However, in the Western European markets, stagnant wage growth had led to shoppers paring [...]
Poundland owner Pepco pledges to ‘protect prices’ as discounter names new CEO April 22, 2022 Poundland owner Pepco has vowed to “protect prices” as customers feel the pinch of rising bills. The Warsaw-listed retailer posted a 17.6 per cent rise in first-half revenue, sales were buoyed by new store openings. Customers would be protected from increases to prices by the retailer renegotiating terms with key suppliers and stock efficiency programmes, [...]
Pepco CEO to step down this year due to health reasons January 5, 2022 Poundland owner Pepco has announced its chief executive officer Andy Bond will step down later this year due to health reasons. Pepco Group, which owns discount retailer brands including PEPCO, Poundland and Dealz, said Bond will step down at the end of March. He is expected to stay on the board as an advisor until [...]
Poundland faced with staggering tenfold rise in shipping costs October 14, 2021 Discount retail giant Pound has seen shipping costs rise tenfold due to global supply chain issues. Andy Bond, chief executive of PepCo, which also runs Dealz stores across Europe, said the retailer has enough stock to keep shelves full although he admitted price pressures are being felt. He did not expect the pressures to ease [...]
Britain 2030: Writing off the high street is unambitious; its future is bespoke, local and community-driven August 20, 2021 After years of decline, the Covid-19 pandemic further hammered the high street, leading to boarded up shops and mass job losses, and some to declare the high street “dead”. But writing off the high street could prove to be unambitious, as, with the help of local government and private stakeholders, the post-pandemic high street could [...]
Poundland owner to create 13,000 jobs as it eyes online retail expansion July 23, 2021 The Pepco Group, which owns Poundland, has tabled plans to create 13,000 new jobs across Europe over the next three years. The discount group’s boss Andy Bond told Reuters that it is betting on shoppers flocking to less expensive stores amid pandemic-induced inflation. Unlike most retailers over the pandemic, the discount chain group has not [...]
Poundland owner Pepco increases earnings as store openings outpace pandemic June 24, 2021 Pepco Group, owner of discount retailer Poundland, has reported a 16.8 per cent increase in core earnings in the six months to 31 March, as revenue growth from new store openings offset the impact of pandemic restrictions. The group, which is listed in Poland and also owns the PEPCO and Dealz brands in Europe, trades from more than [...]
Poundland owner sets discount price for budget retailer’s Warsaw listing May 14, 2021 Poundland’s owner has set a discount price for the budget retailer’s Warsaw listing, giving the company a market capitalisation of 23bn zlotys (£4.38bn). South African conglomerate Steinhoff, the parent company of Poundland owner Pepco, set the price of shares in the firm at 40 zlotys. The pricing is towards the lower end of the 38 [...]