Fashion retailer Penneys to increase its trading space across Ireland by 20pc.
Penneys is to create 700 new jobs across its Irish store network as part of a €250m investment.
The investment will see the Primark company increase its trading space by 20pc.
“Our investment plans demonstrate the confidence and commitment we have to Penneys in Ireland: we plan to remain at the centre of Irish retail for a long time to come”
It will include the opening of a new 43,000 sq ft outlet at the Square shopping centre in Tallaght which will open in autumn 2022.
At least 600 of the new roles will be in stores while 100 will be based at Primark’s global headquarters in Dublin.
Accelerated pace of expansion
The €250m investment will be spread over the next 10 years and includes a €60m investment in extending and redeveloping its Patrick Street store in Cork city, €20m on extending its Eyre Square store in Galway and €75m will be invested in a new distribution centre in Newbridge, Co Kildare.
Penneys will open a relocated store in Carlow in summer 2022.
The overall expansion plan will bring the number of Penneys stores in Ireland to 37.
Primark’s Dublin head office supports a global network of 399 stores, 70,000 employees across 14 markets. The group’s 40th store is due to open next week in Sicily.
The company also intends to accelerate the pace of expansion in the US market, growing its estate from 13 stores currently to 60 stores.
“We hugely value our incredibly loyal Irish customers who have supported us over the years,” said Primark CEO Paul Marchant. “Even as we grow internationally, Ireland will always be our first and home market, and we remain as committed as ever to our employees, customers, and stores here.
“Our investment plans demonstrate the confidence and commitment we have to Penneys in Ireland: we plan to remain at the centre of Irish retail for a long time to come.”
“It’s creating significant employment with 700 new jobs and will also help to secure footfall in our towns and cities once we emerge from the pandemic,” said Tánaiste and Minister for Enterprise Trade and Employment, Leo Varadkar, TD.
“Penneys is one of Ireland’s best-known retailers and also an international success story, having driven significant global expansion over the last few years.”