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.
