Arnotts, the department store group, is planning to remodel its outlets in Grafton Street and North Earl Street, in central Dublin, next year.

The company is also planning to increase activities on the Internet, where it already sells a limited range of merchandise and gift tokens.

At yesterday's a.g.m. Arnotts managing director, Mr James Duignan, declined to reveal the value of the investment, but said it was "quite significant".

The company's outgoing chairman, Mr Tom Toner, told the meeting that trading in the first three months of its financial year was "ahead of budget and last year. We would anticipate that this year will show further progress for the company," he said.