ABC stores to close, Dymocks steps in
Monday, May 12, 2008/
The Dymocks book chain will take over the sale of all ABC products from this month following the closure of the 43 ABC stores around Australia.
The ABC board must formally approve the proposal but is expected to do so at its next meeting on Tuesday 20 May.
Dymocks has had a long-standing relationship with the ABC and features sections in its stores dedicated to selling ABC products.
The book chain also has an existing relationship with SBS and has recently expanded the shop-within-a-shop concept selling DVDs, books and other SBS-branded merchandise.
SBS set out to replicate the success of the ABC with its own merchandising and licensing division.
Dymocks CEO, Don Grover, said he was keen to see a greater ABC presence in the book stores.
Last financial year, ABC stores, ABC centres and online sales generated a $3.3 million net profit, with a gross revenue increase of 7.2% on the previous corresponding period.