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Festive sales jump at Primark but margins set to suffer

Total sales at Primark were up 11% on a reported basis (22% on a constant currency basis) for the 16 weeks to 7 January 2017, driven by an increase in selling space.

The retailer did not reveal specific like for like figures.

However, it has warned that it expects the strong US dollar to hit operating profit margin for the year ahead.

Primark said like-for-like sales had been “good” and that the UK had performed well, although like for likes across the group had been held back by declines in Germany and the Netherlands. 

Average retail selling space increased by 12%. 

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