The Pepco Group was founded in 2015 and consists of two strong, independent retailers – Pepco and Poundland, which also operate internationally under the Dealz brand. The Pepco Group is listed on the Warsaw Stock Exchange.
“The group has concluded that it will exit its operations in Austria as it does not believe the Austrian market will achieve the appropriate level of returns expected,” it said in a statement.
The exit from Austria will improve the group’s cash flow and underlying profitability for 2024, Pepco said, adding that it will now focus on other markets with higher returns. Furthermore, it should have no impact on its existing growth strategy and operations in other countries.
Nevertheless, the company remains cautiously optimistic, even though trading conditions are difficult in large parts of Europe.
Pepco is the fastest growing retail company in Europe, operating nearly 3,500 stores in 19 countries. It serves around 30 million customers per month. The product range includes household goods, clothing and toys at low prices.
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