// Pepco Group to create 13,000 jobs across Europe over the next three years
// Forms part of plans to treble number of stores to achieve target of over €1bn in core earnings within 5-7 years
// Pepco Group is the owner of Poundland in the UK, and Dealz and Pepco in other European countries
The parent company of Poundland is reportedly planning to embark on a recruitment drive, with the creation of thousands of new jobs across its operations in Europe.
Speaking to Reuters, Pepco Group chief executive Andy Bond said the firm is looking to create 13,000 net new jobs across Europe over the next three years as part of the firm’s wider store portfolio expansion plans.
Bond said the majority of the new jobs would be in mainland Europe, with the firm expecting to benefit from inflationary pressure as people become more price sensitive amid the ongoing economic uncertainty brought about by the Covid-19 pandemic.
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Pepco Group operates Poundland in the UK, and the Dealz and Pepco retail chains across other parts of Europe.
The firm currently employs around 35,000, trading from about 3400 stores in 16 countries.
Pepco Group plans to treble its number of stores to help it achieve its target of over €1 billion in core earnings within five to seven years.
It will start trading in its 17th country, Austria, in September.
Bond said the expansion would mean promotion opportunities for existing employees, highlighting how 90 per cent of every management job was an appointment from within.
“Unlike many bricks-and-mortar retailers which are all about stories of ‘haven’t we done a good job where we’re staying alive’, we’re very confident about our growth,” he told Reuters.
Earlier this month, Pepco Group – which recently launched on the Warsaw stock market – reported overall third quarter sales of €1.04 billion for the third quarter.
This marked a 46.7 per cent year-on-year surge in reported currency, or 45.5 per cent growth in a constant currency basis.
On a like-for-like basis, this represented a 29.3 per cent increase on a reported basis.
For the year-to-date, Pepco Group sales came in a €3.04 billion (£2.6 billion), while like-for-like growth stood at 9.6 per cent.
The third quarter also saw Pepco Group open 117 new stores, the vast majority of which were under the Pepco fascia, in all of its 14 current markets – including opening its first stores in Spain.