14th Mar 2006 07:02
Woolworths Group PLC14 March 2006 WOOLWORTHS GROUP PLC RE CONTRACT Woolworths Group plc ("Woolworths") is today providing an update regarding itsentertainment distribution business, Entertainment UK Limited ("EUK"). On 18th January 2006, as part of the Christmas Trading Update, Woolworthsreported that it was uncertain whether EUK's contract to supply Tesco with DVD,Music and Games product would be renewed. Yesterday, Tesco formally advised EUK of its intention not to renew thecontract, which will now terminate on 29th April 2007. Under a separate agreement, EUK has extended its contract with Tesco for thesupply of books until March 2008 and will also continue to support their on-lineand digital operations. EUK has also secured a new contract to supply WH Smith's core DVD offer, whichis in addition to the current music and non-core video supply. Commenting on these developments, Trevor Bish-Jones, Group Chief Executive said: "EUK's trading relationship with Tesco has been a successful one and we aretherefore sorry to see part of this relationship come to an end. EUK willcontinue to pursue new business opportunities to maintain its position as thecountry's leading wholesaler of entertainment product. The signing of a newcontract to increase our supply to WH Smith is tangible evidence of this." - ends - For further information please contact : Celia Gordon-Shute, Tulchan Communications 020 7353 4200 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Wh SmithTesco