Pepco increases profit 22 times in Romania

Polish discount retailer Pepco, which sells clothes, accessories and home decorations, recorded a net profit of almost RON 54 million (EUR 11.7 million) in Romania last year, 22 times higher than in the previous year. The turnover went up almost fivefold last year compared to 2015 reaching over RON 335 million (EUR 73 million) in 2016, according to data from the Ministry of Finance. The retailer opened the first stores in Romania at the end of 2014. It had 806 employees last year. Its stores are located near large retailers such as Kaufland, or within malls such as Mega Mall Bucuresti, Arcade Bucuresti or Ploiesti Shopping City. The company opened the first Pepco store in Poland in 2004. It then expanded to the Czech Republic, Slovakia, Hungary and Romania. It is part of the South-African investment holding Pepkor and the group Steinhoff International Holdings. editor@romania-insider.com