Pepco Group has announced plans to open 400 new stores over the next financial year, as part its refocused strategy.

The group unveiled its “key focus areas over the near term” before its capital markets day today in Warsaw.

Pepco Group confirmed its plans to strengthen its place in key markets and scale the company across Spain and Italy.

The parent company also claimed it would prioritise “rebuilding the profitability” of its core business across Eastern and Central Europe.

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Pepco explained it would assess its strategic positioning of Dealz in Poland in its aim to become “Europe’s leading variety discount retailer”.

The news comes after Pepco Group posted record full-year sales growth last week but noted performance was “mixed” against a challenging backdrop.

The Poundland owner saw group revenue rise by 17.7% to a record £4,876m on a constant currency basis for the year ending September 30, 2023.

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