High Street
Pepco plans to get Poundland ‘back on track’ following weak Q1 sales
The group attributed Poundland’s performance to a ‘more difficult’ sales environment and consumer backdrop in the UK
Poundland owner Pepco has pledged that getting Poundland “back on track” is its key priority after sales at the discount retailer fell over the Q1 period. In the quarter ended 31 December, Poundland saw like-for-like sales fall by 7.3%, largely driven by a “continued underperformance” in clothing and general merchandise, with double-digit declines across both categories. According to the group, this in part followed a transition to Pepco-sourced products.
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