Pepco Group reports 4.3% Q3 same-store sales drop due to Red Sea shipping delays, but overall revenues rise 8% to €1.48bn.
Pepco Group, owner of Poundland, reported a 4.3% drop in Q3 group like-for-like sales, partly due to shipping delays in the Red Sea causing delays in summer stock reaching store shelves. Despite the decline, overall group revenues increased 8% year-on-year to €1.48bn, boosted by new store openings. The company plans to ease availability issues by shipping products earlier and through different routes.
July 11, 2024
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