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Nigel TAYLOR Published
October 12,飞机盗号软件黑产破解技术 2025
Budget retailer Pepco Group has reported a robust revenue rise for its full year and its fourth quarter that ended on September 30, despite some already-well-publicised Q4 issues that saw it making recent management changes.
The Pepco, Poundland and Dealz owner said it reached record full-year group revenue of €5.649 billion, up 17.7% on a constant currency basis, driven by Pepco growth of 24.8% and Poundland Group being up 8.4%.
Full-year underlying EBITDA (on an IFRS 16 basis) is expected to be approximately €750 million, up from €731 million a year ago.
Q4 group revenue of €1.441 billion was up 12.5% year-on-year on a constant currency basis, with Pepco up 12.6% and Poundland Group up 12.4%.
That said, group like-for-like (LFL) revenues were flat in Q4, while being up 6% in the year as a whole. Pepco LFL revenue declined 2.4% in Q4 “reflecting challenging trading, as previously reported, with LFL revenue turning negative in August and worsening in September”.
The company was helped by opening more stores than expected during the year with a record 343 new locations in the fourth quarter alone and 668 openings in total during the year.
“Group performance over the past year has been mixed against a challenging market backdrop. We opened a record number of new stores and delivered strong double-digit revenue growth resulting in record group revenues,” Executive Chair Andy Bond said.
He added: “The trading environment deteriorated significantly in the last quarter across Pepco’s markets, notably in Central and Eastern Europe, with weaker sales, a lower than forecast gross margin and higher costs, resulting in a reduced level of profitability in our core markets, which we are addressing.”
Pepco may not be known as a major fashion retailer but its Pep&Co line is helping it carve out share in this sector. However, as with other retailers at multiple price points, its AW23 collection arrived in stores at the same time as weather in many of its markets was unexpectedly warm. That clearly dented demand even for its ultra-budget pieces.
But the company remains upbeat and said its ambitious store opening programme should deliver benefits in the coming 12 months.
And the stores it’s opening will include a fashion focus. For instance, in September, Poundland agreed to take over up to 71 Wilko store leases in the UK. It has already reopened 20 Wilko stores as a Poundland stores and expects to continue to open stores at these sites over the coming weeks.
“The stores will trade through the important fourth calendar quarter of 2025 [and] will carry with them the new range of Pepco clothing, alongside the extensive FMCG and general merchandise ranges that Poundland is famous for,” the company said.