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Oxford Street could host Primark duo

Value chain Primark is not ruling out opening a second store on London's Oxford Street, amid soaring sales at the retailer.

New stores in Liverpool, Sheffield and the West Midlands are also on the cards, as well as a relocation of its Brighton store.

The plans come as parent company Associated British Foods (ABF) reported stellar interim results, smashing City forecasts, with total sales up 36% to £721 million in the six months to March 3. Like-for-like sales, adjusted for the impact of new openings, rose 6%. Operating profits climbed 28% to £91m.

ABF finance director John Bason told Drapers there were a number of cities where Primark still had no stores, including Edinburgh. He claimed the market could take another 50 stores.

Following the early success of its first Oxford Street shop, which opened earlier this month and has already served more than 500,000 shoppers, Bason said the opportunity of opening a second Primark store on the street could not be ruled out.

Between now and mid-September, Primark will open four stores, including at the Merry Hill shopping centre in Dudley, West Midlands, and at Meadowhall in Sheffield.

Bason said the store in Liverpool, which will be about 100,000 sq ft, will open at the end of this year.

Primark also said it was looking to expand some of its older, smaller locations, such as its Leytonstone shop in east London.

The retailer opened 23 stores in the six months to March 3, bringing its store count to 161. It also opened its second shop in Murcia in Spain during the period.

Primark said it was planning to open another four stores in Spain in the next year.

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