Retail news round-up on February 26, 2014: No spin-off plans for Primark, sales fall at bookseller Eason and Supervalu invests in stores
No plans to spin off Primark, ABF finance chief says
Associated British Foods’ finance director John Bason has dismissed speculation about the possible separation of high-flying value fashion retailer Primark from ABF’s grocery and sugar business, Reuters reported. Bason said: ‘It will not happen on my watch.’
Bookseller Eason revenues plummet 8.7%
Sales at Irish bookseller and stationer Eason tumbled by 8.7% in the last 11 months of 2013 in an ‘extremely challenging’ retail environment, it was revealed in a letter to shareholders from chairman James Osborne. Osborne did not say what the retailer’s turnover was but the group’s accounts to the year to the end of January 2012 state it had a turnover of €244.9m, The Irish Times reported. That indicates turnover was down about €21m.
Supervalu to invest €7m investment in three store openings
Irish retailer Supervalu plans to open three new stores this year as part of a €7m investment by its independent retail partners, resulting in the creation of 210 jobs, The Irish Independent reported. A further €12m will also be invested in the expansion and overhaul of 45 shops, on top of a €20m in-store investment programme in the former Superquinn network.