# Discount retailer Pepco’s sales growth slows
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-07-13
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Pepco Group Sees Slower Sales Growth Amid Challenging
Meta Description: Find out about Pepco Group's latest quarter results, including a slowdown in sales growth. Stay informed on the leading discount retailer in Europe.
URL: https://financedigest.com/discount-retailer-pepcos-sales-growth-slowshtml

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# Discount retailer Pepco’s sales growth slows

LONDON (Reuters) -European discount retailer Pepco Group reported a slowdown in underlying sales growth in its latest quarter on Thursday, saying it faced a challenging trading environment in April and May, particularly in Central Europe.

The Warsaw-listed group, which owns the Pepco, Poundland and Dealz brands, did, however, maintain its financial guidance for the full 2022-23 year.

It said like-for-like sales rose 2.6% in its third quarter to June 30, after rising 8.5% in the second quarter.

Like-for-like sales in the Pepco branded business fell 1.2% in the third quarter overall, but trading had recovered in recent weeks with a positive like-for-like performance in June and the start to the fourth quarter.

Third quarter like-for-like sales in the Poundland Group – Poundland and Dealz – rose 9.0% due a strengthening performance in fast moving consumer goods.

Total group revenue increased 12.5% on a constant currency basis to 1.37 billion euros ($1.53 billion), boosted by 159 new [store openings](https://www.financedigest.com/apple-opens-store-on-chinas-wechat-platform.html "Apple opens store on China’s WeChat platform").

The group said it [expected to report full year](https://www.financedigest.com/taylor-wimpey-expects-full-year-profits-to-halve-amid-housing-gloom.html "Taylor Wimpey expects full-year profits to halve amid housing gloom") core earnings (EBITDA) growth in the “mid-teens” on a constant currency basis, assuming no further significant deterioration in the trading environment.

($1 = 0.8978 euros)

(Reporting by James Davey; Editing by Tom Hogue and Rashmi Aich)


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