Penneys takes Covid hit but plans to invest in Cork City store

The directors said in the accounts the company plans to invest over €250m in the Republic in the next 10 years, including creating 700 more jobs and increasing sales space

Penneys, Patrick Street, Cork. Picture: Denis Scannell

The owner of the Penneys said it plans to invest large amounts in the coming years including at its Cork City store, as it revealed the huge hit taken by the 37 stores it operates in the Republic from the Covid-19 crisis. 

It was the first time that parent Primark had broken out the figures in such detail from its group-wide sales. Primark in turn is owned by Associated British Foods (ABF).