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Poundland owner Pepco pledges to ‘protect prices’ as discounter names new CEO
Poundland owner Pepco has vowed to “protect prices” as customers feel the pinch of rising bills.
The Warsaw-listed retailer posted a 17.6 per cent rise in first-half revenue, sales were buoyed by new store openings.
Customers would be protected from increases to prices by the retailer renegotiating terms with key suppliers and stock efficiency programmes, Trevor Masters, Pepco chief executive, said.
“This will enable us to offset the majority of our input inflation, allowing us to protect prices for our cost-conscious customers.”
Trevor Masters was also promoted from interim chief executive to CEO of the European discounter on Friday, after former CEO Andy Bond stepped down for health reasons earlier this year.