Primark full-year sales rise driven by bricks-and-mortar expansion
Primark has recorded an uplift in full-year sales across the UK, Europe and the US as the fashion retailer’s expansion drive offset like-for-like declines.
The fashion giant said it expects sales in the 52 weeks to September 14 to be up 4% year on year on a constant currency basis despite a 2% fall in like-for-like sales. Primark said its full-year operating profit outlook remains unchanged, and its margin will be up year on year despite the impact of the strong dollar in the second half of its financial year.
The retailer said it “continued to gain significant market share” in the UK, where sales rose 3% overall and like-for-likes dipped 1%. Primark said it was “encouraged” by customer response to its new Birmingham superstore, which stocks the retailer’s full fashion range as well as new food, beverage and beauty services.
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