Primark set for expansion as sales rise

Primark sales increased 8% in the past six months driven by “strong” Christmas trading.

Primark

The clothing brand’s owner, Associated British Foods (ABF), says trading over the key festive period was ahead of its expectations pushing same store sales over the past six months “substantially ahead of last year”.

The company adds it expects to open a further six stores in the second half, three in the UK in Chester, Bury and Blackburn, and three in Spain. It currently has 196.

ABF has recently agreed to acquire ten Bhs stores which will be refitted and rebranded as Primark.

In a forecast ahead of its half-year results, ABF predicts sales growth at Primark will help push profits for the six months to 27 February ahead of the same period last year.

The company, which also owns the Twinings, Kingsmill and Silver Spoon brands, says group operating profit for the half year will be “well ahead” of last year with growth forecast to continue in the second half.

ABF’s full interim results for the six months to 27 February will be announced on 20 April.

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