“Over the past 18 months, through a series of contract wins and acquisitions, we have significantly improved the underlying quality of the EUK business.”
Woolworths offset its recent retail woes by unveiling another major contract boost for its entertainment wholesale business.
The division, called EUK, will supply CDs, video games and a selection of DVDs to Asda in a contract set to add around 200 million in turnover.
It is a further sign that EUK has recovered from the loss of a wholesale contract with Tesco, which ran out earlier this year.
Woolworths’ shares were up 2% as the deal was greeted with relief in the City, particularly at a time of pressure on the group’s retail arm. Read more
More: continued here