Primark third quarter sales in line with expectations
Primark owner Associated British Foods has said the fashion chain is trading in line with expectations due to its summer ranges performing well in all markets.
In the 12 weeks to 27 May, sales grew by 13% with like-for-like sales growth of 7%, supported by higher average selling prices. Meanwhile UK like-for-like sales climbed by 6%.
The news means that Primark’s like-for-like sales growth for the year-to-date is now 9%. ABF said sales of health and beauty products in Primark stores have been particularly strong.
During the period, Primark continued to deploy its improved website with launches in Germany, Spain, Italy and the US, and in France shortly after the period ended. Its remaining markets will follow over the summer.
It also launched new stores Venice in Italy, Buffalo in the US, Toledo in Spain and Bratislava in Slovakia, and signed the lease for its first store in Texas in the US.
