Amazon closes down Book Depository
Super Retail Group founder resigns from board , chooses successor
Premier investments ’ sales , profits increase in first half
NEWS
Amazon closes down Book Depository
Amazon announced that it was closing down its UK-based online book store Book Depository at the end of April .
“ We are sorry to let you know that Book Depository will be closing on 26 April ,” the brand wrote in an official statement on its Facebook page .
The closure comes after Amazon declared it would eliminate all 68 of its physical bookstores , Amazon 4-star , and Pop Up stores across the US and UK , shifting its physical retail focus to the grocery businesses and new retail concepts .
Book Depository , which Amazon acquired in 2011 , was established in 2004 by Stuart Felton and Andrew Crawford , a former Amazon employee .
It was widely used by retailers and individuals from all over the world to source books , especially those that were difficult to find in their home markets .
Super Retail Group founder resigns from board , chooses successor
The founder of Super Retail Group , Reg Rowe , has retired after nearly 50 years in the business .
Rowe ’ s longtime business adviser and the chair of Re-Grow Capital Group , Mark O ’ Hare , has been appointed as the nonexecutive director of the company , effective 4 April , upon Rowe ’ s recommendation .
Super Retail Group chair Sally Pitkin described Rowe as a “ giant of Australian retailing ” adding : “ He has been pivotal to the development of Super Retail Group into Australia ’ s leading highinvolvement lifestyle retailer .”
Rowe , with his late wife Hazel , founded the group ’ s original business in 1972 and he served as its managing director until 1996 .
Between 1996 and 2004 , he was the chair , and he has since been a non-executive director on the board , including during the time the company was listed on the ASX .
Premier investments ’ sales , profits increase in first half
Premier Investments says its profit rose 6.5 per cent during the December 2022 half , as sales rebounded across all of its apparel brands .
The group – which owns and operates Jay-Jays , Dotti , Peter Alexander , Just Jeans , Smiggle , Portmans and Jacqui E – reported an overall lift in sales of 17.6 per cent , to $ 905.2 million . EBIT reached $ 221.8 million , while statutory tax-paid profit grew 6.5 per cent , to $ 174.3 million .
Reflecting the end of the Covid restrictions , online sales fell 12.5 per cent , to $ 170.9 million , as shoppers returned to physical stores .
The company ’ s five key apparel brands delivered $ 452.8 million , an increase of 14.3 per cent , with Jacqui E registering its biggest first half in a decade .
Group chair Solomon Lew described the half as a “ record result ” in an uncertain economic environment and added the company is on track to deliver “ strong returns ” to its shareholders .
Premier Retail CEO Richard Murray said : “ We remain focused on continuing to deliver relevant and quality products , enhancing our digital offering , optimising our store portfolio and identifying new store opportunities to support growth .
“ We are also focused on identifying and executing new offshore market opportunities for Smiggle and Peter Alexander .”
May 2023 www . insideretail . com . au | 11