Owner of Dealz-Poundland discount stores 'gains market share' as inflation soars    

Dealz operates around 100 stores in the Republic.

The owner of Dealz-Poundland discount stores in Ireland said the retailer is gaining market share across all its European markets as the cost-of-living crisis rages. 

Dealz operates around 100 stores in the Republic and has 30 Poundlands in the North, but under its Pepco parent operates many hundreds of stores across the rest of Europe, including in Poland and Britain.

Pepco is winning market share across all its markets as shoppers seek value amid intense inflationary pressure, its acting finance chief said. 

"We are seeing switching into the value discount channel across our markets," Mat Ankers, interim group chief financial officer told Reuters.

"We're growing our price gap to market, that's what's happening at the moment," he said. 

Mr Ankers said the group had invested €35m to keep a lid on prices in its first half to March 31, which dented its gross margin by 137 basis points.

"This is a very meaningful and very considered investment that we're making," he said. 

The Pepco group also owns over 3,400 more stores across the rest of Europe, including 1,000 shops in Poland. It opened its first Pepco stores in Austria, Serbia, and Spain last year. 

Pepco shares are listed on the Warsaw stock market and is currently valued at around €5bn.

 Irish Examiner and Reuters