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Germany attracts UK retailer Primark

Primark has expansion plans in Germany. The retailer opened its first store in Germany in 2009 and the country now accounts for 22 of a group total of 328 shops. It plans to expand to 29 stores within the next two years, making the country its third biggest market by selling space behind Britain and Spain.

The chain now has 1.4 million sq. ft. of space for a German population of 80 million. Primark is a UK retailer. It’s owned by the food and retail giant Associated British Foods. The only thing holding Primark back in Germany is finding large enough stores in the right locations. Primark stores are usually much bigger than those run by other fashion retailers, often sprawling over several floors and including children's wear, home furnishings and cosmetics.

Shares in AB Foods fell in January after it reported that Primark's like-for-like sales dropped in Germany and the Netherlands in the 16 weeks to January 7, hurt by a rapid increase in selling space.

But that will not stop AB Foods from expanding Primark in Germany. Sales are predicted to grow at a high single digit rate in an otherwise flat market, to reach about 638 million pounds this year.

 
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