Primark pledges to keep prices low and cuts 400 jobs
Value fashion giant Primark has vowed not to increase prices, despite an inflationary environment, and is to axe 400 jobs.
Primark parent ABF’s finance director John Bason told Retail Week that it was clear a “cost squeeze” would affect consumers but said: “What we are clear about is that Primark’s prices are not changing.”
His comments will be seen as throwing down the gauntlet to clothing competitors, some of whom have signalled price rises.
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