Primark new space drives growth as like-for-likes shrink
Primark sales have risen thanks to new space as like-for-likes declined over the past three quarters.
Primark sales have risen thanks to new space as like-for-likes shrank over the past three quarters.
Sales in the 40 weeks to June 22 rose 4% but were partially offset by a decline in like-for-like sales. Primark did not specify by how much like-for-likes had fallen.
The retailer said that margin was challenged because of a strong dollar but still expects its margin to increase this year. It improved from 9.8% the previous year to 11.7% in the first half thanks to strong buying and fewer markdowns.
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