Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

Dunnes Stores UK Subsidiary Reported €5.4m Loss In 2020

A UK subsidiary operated by Irish retailer Dunnes Stores reported a £4.5 million (€5.4 million) loss in 2020, The Irish Times has reported, citing recently-filed accounts by the group.

Dunnes Stores (UK), which is a holding company within the overall Dunnes Stores group, recorded rental income of £363,000 (€434,000) in the year to 26 December 2020, the paper reported, which was up from £350,000 (€419,000) the previous year.

According to The Irish Times, the business accrued administrative expenses of £2.6 million (€3.1 million), while also seeing a £2.3 million (€2.7 million) hit on property values, leading to the £4.5 million loss for the year.

Elsewhere, Dunnes Stores (UK) reported a £950,000 (€1.13 million) loss on the disposal of investment property.

As an unlimited company, Dunnes Stores does not make its financial statements publicly available.

Irish Market Leader

According to the most recent market share data from Kantar, Dunnes Stores was Ireland's top grocer in the 12-week period to 28 November, holding 22.8% of the market, putting it ahead of rivals SuperValu (22.1%) and Tesco (21.4%).

Compared to the corresponding period in 2020, Dunnes Stores sales were down 3.6%, however they were up 8.6% compared to the same period in 2019, Kantar's data showed.

Elsewhere, grocery delivery service Buymie recently announced that it had entered into partnership with Dunnes Stores to offer same-day grocery delivery services in Dublin and Cork.

© 2022 European Supermarket Magazine. Article by Dayeeta Das. For more Retail news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days