Value fashion retailer Primark opened an 85,000 sq ft store in Liverpool yesterday which analyst Shore Capital expects will become the retailer’s third performing store in terms of annual sales.
The five-floor store is located on the main high street opposite Marks & Spencer, at one of the entrances to Liverpool’s new 1.4 m sq ft retail development. Shore Capital analyst John Stevenson said it is likely to achieve annual sales in excess of£60 million, sitting behind Primark’s Oxford Street and Manchester stores.
The store follows the same design as Oxford Street and despite the volumes the stores deliver, product availability remains high. Stevenson pointed out Primark has clear, simple retail standards with, for example, each rail clearly labelled, each item had a price tag that was easy to find and own-brand merchandise is clearly differentiated.
Shore Capital reported Primark is continuing to take significant market share and space has increased by over 70 per cent over the past 18 months. The store portfolio is forecast to be operating from 4.8m sq ft by the year end. It also forecasts the Liverpool store to deliver turnover in excess of£1m per week, clearly at the expense of the rest of the high street, with Bhs being particularly vulnerable.