Pepco is leaving Austria

By: Trademagazin Date: 2024. 02. 20. 10:44

The Pepco Group has announced that it is withdrawing from the Austrian market, as it is not expected to make enough profit for them in the country.

According to the company’s statement, “the group has today come to the conclusion that it will cease its activities in Austria, as it does not foresee that the Austrian market will reach the expected level of return,” Reuters quotes the company’s statement.

The Pepco Group, which owns the Pepco, Poundland and Dealz brands and is listed on the Polish stock exchange, entered the Austrian market in September 2021 and has since opened 73 stores in the country. However, they have now decided to withdraw from the country to improve the company’s cash flow for 2024 and their profitability.

The company emphasizes that pulling out of Austria will allow them to focus on other markets where they can make more profits. This decision is part of the company’s strategic plans and was made in order to optimize their activities and maximize their profitability. Pepco Group currently has 4,832 stores at the end of December and continues to focus on the markets where it can achieve the best results.