Retail

Dealz Owner Pepco Expands European Roll-Out Into Portugal

By Donna Ahern
Dealz Owner Pepco Expands European Roll-Out Into Portugal

European discount retailer and Dealz owner Pepco Group will open its first shop in Portugal on Wednesday, launching in its twentieth European territory as one of the sector's biggest store roll-outs gathers pace.

The Warsaw-listed group, which also owns the Poundland brand, trades from over 4,100 stores.

It opened a net 166 stores in its first half to 31 March and plans at least 550 net new stores over its full 2022-23 financial year.

The Pepco store in Coimbra, central Portugal, will be followed by openings later this month in Albufeira and Olhão.

Further Expansion 

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Further openings are planned over the course of the year, including in Lisbon, Porto, Elvas, Tavira, Averio, and Braga.

The stores will sell clothing, general merchandise from homewares to toys, as well as toiletries, cleaning and laundry products, personal care products, confectionery, and pet categories.

“Our launch in Portugal ... further validates our belief the whole of Europe is addressable to us," Trevor Masters CEO Group Pepco said.

Future Plans 

The group plans to enter a 21st territory, Bosnia and Herzegovina, later this year.

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Pepco Group, which listed in 2021 and has a market capitalisation of about $5.5 billion, last month reported a 23% surge in first-half revenue.

First-Half Revenue

Pepco Group reported a 22.8% surge in first-half revenue.

The retailer noted that revenue was €2.84 billion ($3.11 billion) for the six months to 31 March.

Like-for-like sales were up 11.1% in the first half and up 8.5% in the second quarter.

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Read More: Dealz Owner Pepco Sales Jump As Shoppers Seek Value

News by Reuters, edited by Donna Ahern, Checkout. For more retail stories, click here. Click subscribe to sign up for the Checkout print edition.

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