Pepco Group ensures early storage of Christmas goods amid shipping delays

7/11/2024 9:23:25 AM

(MENAFN) European low-price retailer Pepco is proactively placing early orders for Christmas merchandise from China to guarantee timely delivery ahead of the festive season, according to the company's head. The Warsaw-listed corporation, which owns the Pepco, Poundland, and Deals brands, experienced a more significant than anticipated 4.3 percent decline in core revenue for the quarter ending in June. This downturn has been partly attributed to delays in stocking summer items due to shipping disruptions in the Red Sea region. The persistent disturbances in the Suez Canal have continued to affect shipping through the Red Sea this year, complicating logistics for many businesses.

Andy Bond, Chief Executive of Pepco Group, expressed confidence that their early stocking strategy would put them in a better position for Christmas compared to previous years. He noted that securing merchandise ahead of time would mitigate potential delays and challenges that might arise closer to the holiday season. Bond explained in an interview with Reuters that by taking these measures, the company expects to have a larger inventory of Christmas goods arriving at their warehouses in September, as opposed to the traditional timeline which saw shipments arriving later. As a result, by the end of their financial year on September 30, Pepco will likely report a significantly higher inventory on their books, reflecting their efforts to ensure product availability and customer satisfaction during the crucial holiday period.

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