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Primark expects 20 per cent rise in sales this year

Primark’s sales at actual exchange rates are expected to be 20 per cent ahead of last year’s. Primark has performed particularly well in the UK where full-year sales are expected to be 10 per cent ahead of last year on a comparable basis and its share of the total clothing market has increased significantly. Primark is almost unique in not offering its products for sale via e-commerce.

Favorable weather as it moved into the fourth quarter and a strong product offer meant lower markdowns while early trading of the new autumn/winter range has been encouraging.

The store count is being upped in all of Primark’s markets. Last year, the group added 30 new stores and 1.5 million sq ft of space in nine countries. It now has 345 stores with 11 added in the UK; three in each of Spain, France, the Netherlands, Italy and the US; two in Germany and one each in Belgium and Ireland. Its UK flagship store was extended by 40 per cent during the year.

In the next financial year, Primark is planning over 1.2 million sq ft of additional selling space. France, Germany and the UK will see the most space added and overall it will open 19 new stores, together with a number of relocations and extensions.