Company bets on shoppers heading to cheaper stores after Covid-19 and hunt for bargains amid inflation
Company bets on shoppers heading to cheaper stores after Covid-19 and hunt for bargains amid rising pricesA woman leaves a branch of Poundland in Altrincham, Britain. Picture: REUTERS/PHIL NOBLE
While many European retailers have shifted operations online, shut stores and cut jobs to survive Covid-19, Pepco is heading in the other direction. It draws comparisons with British discount retailer B&M, which has seen its shares rise 125% since the day before Britain entered its first pandemic lockdown.Like many discount retailers, Pepco hasn’t embraced online deliveries when its average value oif its basket is €7-€8.
“I’ve been very sceptical. However, it is such a macro trend, we’ve got to learn about it, because I have no intention of looking like the idiot who called the world flat when it was actually round,” said Bond.
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