THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE

ABF boosted by record Christmas sales at Primark

Primark owner Associated British Foods has reported that sales at the budget fashion retailer rose by 7% year-on-year at constant currency in the 16 weeks to 6 January with the uplift driven by an increase in retail selling space.

FASHION

ABF boosted by record Christmas sales at Primark

Sales were 9% ahead of the corresponding period in the previous year at actual exchange rates. The company said the retailer achieved record sales in the week before Christmas.

While the UK saw "strong" like-for-like sales growth in the period, growth across Europe was held back by unseasonably warm weather in October. This was followed by good trading in the five weeks leading up to Christmas.

ABF now expects operating margins in its first half to be close to those in the same period in the previous year with better buying virtually offsetting the adverse effect of the weaker sterling/US dollar exchange rate on purchases.

At 6 January 2018, 350 stores were trading from 14.2 million square feet compared to 13.1 million square feet a year ago. New stores were opened in the period in Bielefeld, Munster and Stuttgart in Germany, Charlton in the UK and Loulé in the Algarve.

Across the wider ABF group, which includes sugar, agriculture, grocery and ingredients businesses, revenue from continuing operations in the period was 4% ahead of the prior year at constant currency.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy