News In Brief: €10m Penneys revamp may spur ‘double-digit growth’

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27th March, 2016

The refurbishment programme by Penneys’ parent company, Primark, which saw nearly €10 million invested in its O’Connell Street store, could drive double-digit growth for the company this year, according to a senior analyst.

“Solid like-for-like growth and space expansion could drive double digit percentage revenue growth, while operating margins are expected to stabilise this year and then show incremental improvement,” said Jack Gorman of Davy.

Primark, which is owned by...

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