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Primark sales expected to be up 17%

Sales at Primark for the full year to September 13 are expected to be up 17% on 2013, driven by an increase in selling space, a rise in like-for-like sales and bigger store densities in new shops.

Parent company Associated British Foods said like-for-like sales at the retailer are expected to be up 4.5% for the full year, following “highly successful” autumn and spring ranges.

Christmas sales at Primark were “excellent” and warm weather in the third quarter boosted sales and led to “outstanding” results in Spain.

The company said early signs of the autumn 14 range were “encouraging”.

In April, Primark signed a lease for 70,000 sq ft of selling space at Downtown Crossing in the heart of Boston, Massachusetts, and the store is expected to open in late 2015. Following the announcment, negotiations are under way to open a further 10 stores in the northeast of the US by late 2016.

During this financial year, Primark will have opened 1.4 million sq ft of selling space in 28 new stores, the most recent being Alexanderplatz in Berlin, Bath in the UK and Enschede in the Netherlands.

It closed seven smaller stores when larger, better located, premises became available in the same city, resulting in a net increase in selling space of 1.2 million sq ft. This will bring the total estate to 278 stores and 10.2 million sq ft at the end of the financial year.

Primark expects to open a further 1 million sq ft of selling space in the next financial year, followed by a “strong programme” of openings in autumn 15.

This summer Primark doubled the size of its warehouse in Torija, Spain, and the Mönchengladbach warehouse in Germany, which services the stores in northern Europe, is being extended by 60% and will become operational early in 2015.

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