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Festive sales at Primark jump

Sales at Primark rose by 7% during the 16 weeks ending 6 January 2018, due to “increased retail selling space”.

Sales were 9% ahead of last year at actual exchange rates.

The value retailer did not provide a breakdown of like-for-like figures for the period, but said the UK “continued to perform well” with “strong” like-for-like sales.

It added that operating margins in the first half of 2018 are “expected to be close to those in the same period last year”. It did not reveal this figure in its first half results for 2017.

Primark’s retail space increased by 300,000 sq ft since its financial year end in September 2017. It now trades from 350 stores spanning 14.2m sq ft, which compared to 13.1m sq ft a year ago.

Group revenue across Primarks’ parent company Associated British Foods was up 4%, and sales from continuing operations at actual exchange rates was 3% up. The business attributed this to strengthened sterling against most of its major trading currencies.

The retailer appointed Zara Basic head of product, Paula Dumont López, to head up its womenswear offering in December last year.

 

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