Pepco Group posts Q1 like-for-like sales growth of 5.5 percent

Pan-European variety discount retailer, Pepco Group, owner of the Pepco and Dealz brands in Europe and Poundland in the UK reported like-for-like (LFL) sales growth of 5.5 percent in the first quarter against a challenging comparative of 3.9 percent in 2019. The company said in a statement that stores not impacted by Covid-related closures, traded strongly delivering LFL growth of 6.6 percent consistent with that delivered in the first quarter of FY20, underpinned by continued investment to strengthen the customer offer. Revenue growth, on a constant currency basis of 9.1 percent and reported 3.9 percent, reflected the ongoing expansion of Pepco and Dealz formats.