Table of Contents

Quick Stock Overview
Pepco by the numbers.

1. Executive Summary
A brief discussion of Pepco and its potential appeal to value investors.

2. Extended Summary
A more detailed explanation of Pepco’s business and competitive position.

3. Recession and Discounters
The coming European recession and the rise of discounters.

4. Pepco’s future
Aggressive growth and expansion in new markets

5. Financial results
Reasonable valuation and impressive per shop profitability

6. Conclusion
Why Pepco is worth a closer look.