Retailers are being hampered by volatility in the region, with many shipping firms having to redirect cargo around the foot of Africa.
Poundland owner Pepco has revealed a sales slump over the latest quarter, partly driven by delays in summer stock reaching its stores due to Red Sea shipping disruption.
The company added: “The group remains confident that availability issues that have impacted LFL sales will ease through the fourth quarter, as we mitigate the Red Sea impact by shipping product earlier and channelling stock through different shipping routes.” Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today.No one will be able to see who is signed up and no one can send messages except the Daily Record team.If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'.
Andy Bond, executive chair of Pepco Group, said: “We have continued to execute against our strategy to deliver more measured growth – doing less, to achieve more – with a greater focus on improving profitability.
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