Value fashion retailer Primark has continued to attract cash-strapped consumers, generating a further sales rise.
Like-for-likes sales jumped 5 per cent in the six months to February 28, Primark owner Associated British Foods (ABF) said in its pre-close update. The chain is expected to "again deliver excellent results".
However, operating profit margin is expected to be lower when ABF reports in April, because of a new distribution centre.
Since the year-end Primark - which has 187 shops - has opened three new stores in Spain, bringing the total there to 12 and made its debut in the Netherlands, in Rotterdam. Trading at the Dutch store has been "very encouraging" so far.
The retailer will open its first shops in Portugal and Germany in the second half.
No comments yet