Value fashion retailer Primark was founded in Ireland in 1969 under the name Penneys, a name it still trades under in Ireland. Its business model relies on quality fast fashion at unbeatably low prices. The retailer operates over 450 stores worldwide. It does not operate a transactional website or app, though it does provide a click-and-collect service, setting it apart from other retailers. Retail Week provides news, analysis, features and opinion about Primark and the fashion sector.
Retailers are taking heed of environmental, social and governance (ESG) matters, and in many cases are also realising the commercial benefits that come with focusing on these issues as opposed to solely chasing profit at all costs.
For every £10 spent at a UK Primark store a further £3.60 is spent in other stores, restaurants and cafes, boosting high street spend by £1.5bn a year, according to a new report.
Despite posting surging profits and sales at the half year, Sainsbury’s boss Simon Roberts became the latest retail boss to warn that Labour’s all stick and no carrot approach to business will lead to higher prices.
Value clothing powerhouse Primark has posted a big rise in full-year profits, helped by factors such as lower costs.
The “disappointing” Budget for UK high streets will cost fashion giant Primark “tens of millions” of pounds, according to Associated British Food’s (ABF) chief executive George Weston.
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