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Pepco to create 13,000 European jobs

Andy Bond, chief executive at the group, told Reuters that the majority of jobs would come on the continent as Pepco looks to open a raft of new stores

Pepco Group, the owner of discount retailers Poundland and Dealz, has revealed plans to add 13,000 staff members across its European operations over the next three years.

Andy Bond, chief executive at the group, told Reuters that the majority of jobs would come on the continent as Pepco looks to open a raft of new stores.

The expansionary plan has been announced in reaction to inflationary pressures, with Bond claiming that the group will benefit from many customers also searching for bargains following the global pandemic.

He said: “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.”

Despite the bricks and mortar expansions, and underlying earnings jumping 16.8% year-on-year in H1 FY21, Pepco has continued to reject a move to offering online delivery services.

Bond told the publication that he has been “very sceptical” of embracing rising e-commerce trends.

He added: “Our consumer dynamic, our geographical spread and our business model make us most defendable against online and most unlikely to go online.”

Yet, Bond recognised that “it is such a macro trend” that the group has “got to learn about it”, and is therefore launching a small online trial in central England to better understand customer demand.

A move to online deliveries, however, would only be viable if customers were willing to spend roughly £60 per shop, compared to the current basket size of £6 to £6.85.

Pepco reiterated the comments with Retail Sector.

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