THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
People in Retail Awards 2023
Retail Marketplace Strategy 2023
Omni Channel Futures 2023
Retail HR Central
Digital Transformation Strategy 2023
Customer Engagement Strategy 2023
Retail HR 2023
THE Retail Conference 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Primark sales return to pre-Covid levels

Primark has seen its sales return to pre-Covid levels after it benefited from an increase in footfall following the easing of Covid related restrictions. In the… View Article

FASHION

Primark sales return to pre-Covid levels

Primark has seen its sales return to pre-Covid levels after it benefited from an increase in footfall following the easing of Covid related restrictions.

In the year to 17 September, the fashion retailer’s total sales climbed by 43% to £7.7 billion while adjusted operating profit increased by 81% at constant currency to £756 million.

The retailer’s UK like-for-like sales are now back in line with pre-Covid levels after customers returned to major high streets in the year and sales densities in stores in larger cities were boosted by return of commuter traffic and the growth of tourism.

Looking ahead, Primark owner Associated British Foods said it has decided not to increase the retailer’s prices despite rising inflation.

George Weston, chief executive of Associated British Foods, said: “Substantial and volatile input cost inflation will be the most significant challenge in the new financial year, and our businesses will continue to seek to recover these higher costs in the most appropriate way.

“Primark has faced significant input cost inflation and sharply moving currency exchange rates. We have decided to hold prices for the new financial year at the levels already implemented and planned and to stand by our customers, rather than set pricing against these highly volatile input costs and exchange rates.”

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News