The retail group Pepco Group NV grew strongly in the 2021/22 financial year. This is the result of preliminary figures that the company published in a preliminary announcement on Wednesday. According to this, group sales in the fiscal year that ended in September amounted to around 4.8 billion euros. Compared to the previous year, currency-adjusted sales grew by 17.4 percent, not least thanks to numerous new store openings. On a like-for-like basis, the rate of increase was 5.2 percent. The parent company of the retail chains Pepco, Poundland and Dealz plans to present its full annual report on December 13th.
The engine of growth was the Polish discounter Pepco, which recently expanded strongly. The retail chain achieved currency-adjusted sales growth of 28.7 percent to 2.7 billion euros in the past financial year. Like-for-like, their sales were 7.4 percent above the level of the previous year. At the end of September, Pepco had 2,910 stores, 446 of which had been added during the fiscal year. According to the company, 146 new stores were opened in the “strategically important Western European markets” of Germany, Austria, Italy and Spain.
In the Poundland Group segment, currency-adjusted annual sales increased by 5.0 percent to 2.1 billion euros. On a like-for-like basis, it grew by 2.6 percent.
The retailer announced that it intends to further increase its pace of expansion in the 2022/23 financial year. The aim is to open at least 550 additional branches, according to a statement. Pepco is also planning to enter the Greek and Portuguese markets. In view of the ambitious growth plans in the current year, the investment volume should increase to a new record level of 350 to 400 million euros.
Precisely because of the adverse economic conditions, the group is anticipating good growth opportunities for its discounter chains: “These are very difficult times for families across Europe and we remain determined to help customers on a small budget by offering a offering variety, value and convenience – and we’re confident this will allow us to continue to grow our customer base,” said CEO Trevor Masters in a statement.