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
Primark expects 13% rise in full year sales

Associated British Foods has reported that full year sales at its Primark chain are expected to be 13% ahead of last year at constant currency with trade mainly driven by a 9% increase in selling space.

GENERAL MERCHANDISE

Primark expects 13% rise in full year sales

In a pre-close trading update, the company said sales on a like-for-like basis are expected to be 1% ahead of last year reflecting a strong performance across a number of countries.

The company reported that very high sales densities were achieved by stores opened in the last 18 months particularly by stores in France, which has been Primark’s most successful new market entry to date. As a result of the weakening of the euro against sterling, sales are expected to be 8% ahead at actual exchange rates.

ABF said like-for-like sales in the early part of the financial year were impacted by the unseasonably warm autumn followed by strong trading across the important Christmas period. In addition, spring trading was held back by cool weather followed by strong trading in the fourth quarter.

Spain, Portugal and Ireland all performed “very well” throughout the year and the UK delivered a positive like-for-like performance.

During the current financial year, Primark has opened almost one million square feet of selling space bringing the total estate to 293 stores. The new stores include the retailer’s first shop in the US at Downtown Crossing in Boston which will open on 10 September.

Primark’s pipeline of new stores includes some 1.5 million square feet scheduled for the new financial year, the major elements of which will be in the northeast US, the UK and Spain.

ABF will announce its results for the 52 weeks to 12 September 2015 on 3 November.

 

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
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing