Poundland owner Pepco Group’s Christmas quarter sales dented by COVID By Reuters

LONDON (Reuters) – Pepco Group, the owner of British discount retailer Poundland, said same store sales fell 2.1% in its Christmas quarter, impacted by closures due to the COVID-19 pandemic.

The retailer, which also owns the PEPCO and Dealz brands in Europe, said trading stores – stores that were open for the full duration of any week in the quarter to end-December – delivered like-for-like sales growth of 5.5%.

Pepco Group is part of troubled South African conglomerate Steinhoff International Holdings Ltd (DE:SNHG), which is still battling the fallout from a 2017 accounting scandal.

Since 2019 Steinhoff has been evaluating a range of strategic options for Pepco Group, including a potential public listing. That process was delayed by the pandemic but Steinhoff said on Monday it had resumed.