Pepco Group plans min. 400 new stores in FY 2024

Pepco Group will present new information today on the Group’s strategy, covering key areas on which the Group will focus in the near term, as well as a renewed vision to become a leading European discount retailer. The presentation will include, among other things, plans to open at least 400 net new stores across the Group in fiscal 2024 (up from 668 in fiscal 2023), the company said.

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“We need to refocus on delivering more measured growth – doing less to achieve more – with a greater emphasis on improving profitability and generating cash within our established business. Significant opportunities exist and we will now try to take advantage of them in a more targeted way. Despite challenging market conditions, the Group has a market-leading customer offering, a strong balance sheet and stable operating cash flow. I am therefore confident that by focusing on fulfilling the renewed strategy, we will be able to continue to realize the Group’s successes across Europe.” – Bond said, quoted in today’s announcement.

A document with the presentation displayed at today’s meeting will be made available on the Group’s website today, following Capital Markets Day, the company also announced.

The Pepco Group was established in 2015 and consists of the Pepco, Dealz and Poundland retail chains. The Pepco Group currently has about 4,300 stores in 21 countries, employing approx. 43,000 people. The company debuted on the Warsaw Stock Exchange in 2021; it is part of the WIG20 index.

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