Primark sales surge as footfall climbs and margin is ‘better than expected’

Primark posted a 19% increase in sales to £4.3bn for the 24 weeks to March 4, 2023, and said its sales boost reflects “good growth in all countries”.

Primark reported adjusted operating profit of £351m for the period, increasing its operating profit margin to 8.3%, which the fashion giant said was “higher than we had expected”.

The fashion retailer attributed its strong sales period to growth “driven by price and volume”. Parent company ABF chief executive George Weston said he was “very pleased” with Primark’s improvement in sales, attributing its “very successful” period to its “good quality” proposition, price leadership and investment into stores.

Primark has also today announced the expansion of its click-and-collect trial, following its success in 25 stores across the North West and Wales last November.

Launching this summer, customers will be able to shop childrenswear online and collect products from one of Primark’s 32 stores in and around London included in the trial region.

The click-and-collect trial expansion brings Primark’s total number of trial stores to 57.

Primark chief executive Paul Marchant said: “We’re really encouraged by how the trial has landed with customers, who tell us they value the choice and convenience click and collect is offering them.

“We’re also seeing strong demand for the service outside the trial region and it’s helping us reach new customers too.

“This gives us the confidence to take this trial to the next level and expand it further to more stores to understand how the service can work for a broader range of customers. We’ll continue to monitor the trial closely as we look to complement the experience and offer we have in our stores.”