Discounter Pepco winning share in all markets, says finance chief

LONDON (Reuters) – Pepco Group, owner of European discount retailer brands PEPCO, Poundland and Dealz, is winning market share across all its markets as shoppers seek value amid intense inflationary pressure, its acting finance chief said on Thursday.

“We are seeing switching into the value discount channel across our markets,” Mat Ankers, interim group chief financial officer told Reuters.

“We’re growing our price gap to market, that’s what’s happening at the moment.”

Ankers said the group had invested 35 million euros to keep a lid on prices in its first half to March 31, which dented its gross margin by 137 basis points.

“This is a very meaningful and very considered investment that we’re making,” he said.

(Reporting by James Davey; Editing by Kate Holton)