Another rally for Steinhoff shares as Pepco reports success in Europe
Group says 12% growth in revenue was driven primarily by the opening of new stores, mainly by Pepco brand
European discount retailer Pepco, a subsidiary of Steinhoff, says its expansion of its discount household goods chains into Western Europe has performed ahead of expectations in the past three months.
Pepco, valued at just more than €5bn, is one of Steinhoff’s biggest subsidiaries and is closely watched by those who want to see if the holding company will become profitable as it ends a chapter of litigation against it and begins to restructure its debt. ..