Fourth-quarter boosts confidence at Pepco: growing middle-class success

Pepco is raising its profit forecast following a strong fourth quarter. The discount chain now expects higher net income and also anticipates hitting the high end of its revenue target. Consumers are increasingly turning to discounters, particularly in middle-class markets.

“We’re up for the challenges”

Pepco expects underlying net income for the fiscal year ending Thursday to rise by more than 60%. Previously, the company had targeted growth of more than 50%. In terms of revenue, the chain anticipates more than 4.5 billion euros, placing it at the upper end of the previously announced growth range of 6% to 8%.