Poundland owner Pepco said it will “refocus” on its struggling Central and Eastern Europe arm, as it reshuffled its management team following a second profit warning in a little over two weeks.
The business said “record warm weather” in its core markets led to poor demand for clothes in countries like Poland and the Czech Republic, as sales declined year-on-year. It hasn’t yet benefited from a slowdown in inflation, as it is still selling items that were bought earlier in the year at high costs.
