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 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 [...]
Discounter Pepco sets sights on Europe with 400 store openings February 19, 2021 The owner of British discount retailer Poundland has targeted 400 store openings across Europe in the upcoming financial year as it expands its Pepco brand, its boss said on Friday. The group opened 327 new stores in the previous financial year, taking the total to more than 3,000 across 15 countries. Italian confidence Pepco entered [...]
Poundland sales grow as discount store chain introduces new price points and product lines January 27, 2021 Poundland owner Pepco reported a jump in revenue in the first quarter due to its status as an essential retailer and its introduction of new price points and product lines including clothing and homeware. The discount store chain, which trades as Pepco and Dealz in Europe and Poundland in the UK, said group like-for-like sales [...]
Poundland owner lines up advisors for stock market listing January 7, 2020 The owner of Poundland is reportedly mulling a stock market listing that could value the discount retailer at about £3.4bn. Steinhoff International Holdings, the owner of Poundland’s parent company Pepco Group, is expected to appoint advisors in the next few days to support plans for an initial public offering (IPO), Sky News reported. Read more: [...]
Supermarket wars hot up: Poundland launches online shopping trial September 1, 2015 Poundland is dipping a toe in the waters of online retailing, with the bargain chain launching a trial online shopping service today. The discount retailer’s website, will initially offer 2,000 products ranging from Poundland’s £1 Make Up Gallery cosmetics range to Toblerone bars and three-for-£1 cans of Coke. Poundland said the service will have no [...]
Poundland’s share price soars as discount retailer gets greenlight for 99p Stores takeover August 25, 2015 Poundland's acquisition of (more) budget rival 99p Stores has been given the provisional go-ahead by the competition watchdog, sending the listed company's share price soaring. The Competition and Markets Authority this morning said the merger “may not be expected to result in a substantial lessening of competition”. It said: "Along with Poundworld, [...]
Regulators list problems with Poundland’s £55m 99p Stores merger June 25, 2015 Britain’s competition watchdog unveiled a list of issues it is exploring around Poundland’s £55m merger with 99p Stores after the discount chain agreed to push ahead with an in-depth probe last month. Poundland, which floated on the stock market last year, announced in February that it was going to buy 99p Stores. However, the Competition [...]