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Primark sales flatten in run up to summer

Overall sales at Primark were flat in the 16 weeks to June 20, but the UK continued to deliver a “positive” like-for-like performance.

Sales for the 40 weeks to June 20 were 13% ahead on a constant currency basis, said Primark’s parent company Associated British Foods. But due to a weakening of the euro against sterling, this amounted to a 9% increase at actual rates.

ABF said: “As previously indicated, the impact of currency on results for the next financial year will be more significant than this year and arises from transactional currency exposures, primarily in British Sugar and Primark.”

Primark, which has 287 stores, will increase its store footprint by 0.3 million sq ft, largely across Europe, by the end of the financial year.

@LukeToddUK

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