Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

NEWS

Discount retailer Pepco’s sales growth slows

Published On :

Discount retailer Pepco’s sales growth slows

LONDON (Reuters) -European discount retailer Pepco Group reported a slowdown in underlying sales growth in its latest quarter on Thursday, saying it faced a challenging trading environment in April and May, particularly in Central Europe.

The Warsaw-listed group, which owns the Pepco, Poundland and Dealz brands, did, however, maintain its financial guidance for the full 2022-23 year.

It said like-for-like sales rose 2.6% in its third quarter to June 30, after rising 8.5% in the second quarter.

Like-for-like sales in the Pepco branded business fell 1.2% in the third quarter overall, but trading had recovered in recent weeks with a positive like-for-like performance in June and the start to the fourth quarter.

Third quarter like-for-like sales in the Poundland Group – Poundland and Dealz – rose 9.0% due a strengthening performance in fast moving consumer goods.

Total group revenue increased 12.5% on a constant currency basis to 1.37 billion euros ($1.53 billion), boosted by 159 new store openings.

The group said it expected to report full year core earnings (EBITDA) growth in the “mid-teens” on a constant currency basis, assuming no further significant deterioration in the trading environment.

($1 = 0.8978 euros)

(Reporting by James Davey; Editing by Tom Hogue and Rashmi Aich)

 

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts