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Primark to open 10 new stores pre Christmas amid ‘encouraging’ sales

Primark is on track to open ten new stores before Christmas as the high street giant pushes on with its huge expansion plans. It comes after Primark… View Article

FASHION

Primark to open 10 new stores pre Christmas amid ‘encouraging’ sales

Primark is on track to open ten new stores before Christmas as the high street giant pushes on with its huge expansion plans.

It comes after Primark said last month it will open four new stores in the UK as part of a £140million high street investment plan, but it has now announced further expansions across the US and Europe

Its parent owner Associated British Food (ABF) said in a trading update earlier today that it wants to add 27 stores before the end of the financial year in April.

Associated British Foods Chairman, Michael McLintock reported : “At this early stage, Primark trading in this financial year has been encouraging. We are on track to open 27 new stores this financial year, ten of these opening in the run-up to Christmas, and to date we have opened six new stores, including one today in Angers, France. For the full year, we continue to expect significant growth in sales for the group, and adjusted operating profit and adjusted earnings per share to be lower than the previous financial year.”

 

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