Business
Solomon Lew’s Premier to post record profit thanks to JobKeeper, online sales – Sydney Morning Herald
Strong online sales, along with tens of millions claimed in JobKeeper subsidies, has meant billionaire retail Solomon Lew’s Premier Investments will report a record profit.
Premier attributed the better-than-expected result to a 70 per cent rise in online sales across the second half, coming in at $123.3 million and contributing to a quarter of the company’s total second-half sales.
“Premier Retails online sales deliver significantly higher EBIT margin than the EBIT margin of the retail store network,” the company said. Second half EBIT is expected to grow between 9.7 per cent and 11.7 per cent to around $59 million.
Sales at the company’s re-opened stores since …
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