The retail group Pepco Group NV was also able to achieve a significant increase in sales in the third quarter of the 2022/23 financial year. In an interim report published on Thursday, the parent company of the discounters Pepco, Poundland and Dealz also confirmed its growth targets for the full year.
In the period from April to June, group sales amounted to 1.37 billion euros, which corresponded to currency-adjusted growth of 12.5 percent compared to the same quarter of the previous year. The retailer owes the significant increase primarily to the opening of new branches: Like-for-like sales increased by just 2.6 percent after currency adjustments.
In the first nine months of the current financial year, sales reached almost 4.21 billion euros. Adjusted for currency effects, it thus exceeded the corresponding prior-year level by 19.3 percent (like-for-like +8.2 percent).
The group, which expanded its branch network by 159 locations in the third quarter alone, reaffirmed its short-term expansion plans. “We are confident that we will achieve our goal of opening at least 550 new stores in the current fiscal year,” emphasized CEO Trevor Masters in a statement. In the first nine months, the number of new store openings has so far totaled 325. Management also confirmed the existing earnings forecast.
