Jan 16 (Reuters) - Pepco Group NV :: *Q1 GROUP REVENUES OF €1.9 BILLION WITH CONSTANT CURRENCY REVENUE GROWTH OF 3% VERSUS LAST YEAR *GROUP LIKE-FOR-LIKE $(LFL)$ REVENUES DECLINED 1.1% IN Q1 *GROUP GROSS MARGIN IMPROVED BY OVER 140 BASIS POINTS Y/Y IN Q1, WITH CONTINUED STRONG PROGRESS IN PEPCO, OFFSETTING SIGNIFICANTLY LOWER MARGINS IN POUNDLAND *CELEBRATED ITS 5,000TH STORE MILESTONE WITH NET NEW OPENINGS OF 63 STORES ACROSS GROUP IN Q1, LARGELY REPRESENTING OPENINGS OF PEPCO IN CORE CEE REGION *GROUP EXPECTS TO OPEN AROUND 300 NET NEW STORES ACROSS FY25 *WE CONTINUE TO SEE DIVERGENCE OF PERFORMANCE ACROSS OUR BRANDS *WE ARE PLEASED WITH MOMENTUM WE ARE SEEING IN PEPCO AND DEALZ BUSINESSES, WITH RETURN TO LFL SALES GROWTH IN Q1 *WE REMAIN CONFIDENT THAT PEPCO WILL DELIVER PROFITABLE GROWTH DURING THE YEAR *WE EXPECT THAT THE TOUGHEST COMPARATIVE QUARTER FOR POUNDLAND IS NOW BEHIND US *WE EXPECT NEGATIVE SALES PERFORMANCE FOR POUNDLAND TO MODERATE AS WE MOVE THROUGH THE YEAR *POUNDLAND WILL NOT OPEN ANY NET NEW STORES DURING THE YEAR *WE ARE CONTINUING COMPREHENSIVE ASSESSMENT OF POUNDLAND TO RECOVER TRADING AND GET BUSINESS BACK TO ITS CORE STRENGTHS *THAT INCLUDES UNDERTAKING THOROUGH ASSESSMENT OF ALL COSTS ACROSS BUSINESS, AS WELL AS EVALUATING ITS OVERALL COMPETITIVE POSITIONING *WE WILL UPDATE ON GROUP’S STRATEGIC PLANS AT CAPITAL MARKETS DAY THAT WILL BE HELD ON MARCH 6
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