BENGALURU (Reuters) -Poundland and Dealz owner Pepco Group on Thursday posted a 17.1% rise in third-quarter revenue as cash-strapped shoppers fuelled demand at its discount stores.
Revenue rose to 1.21 billion euros ($210.44 million) on a constant-currency basis in the three months ended June 30, with like-for-like sales gaining 4.9%.
The company is on track to launch 450 net new stores in fiscal 2022 as part of its strategy of selling low-price products amid rising inflation even as many retailers are focusing more on online sales.
The European discount retailer said it was on track for another good year in the absence of any further significant deterioration in the macro trading environment.
Rising costs, supply-chain snags and the conflict in Ukraine, which borders three of the company’s largest operating territories pose a threat to the firm’s business.
($1 = 0.9979 euros)
(Reporting by Eva Mathews and Chandini Monnappa in Bengaluru; Editing by Arun Koyyur)
