Primark is “seeing what works” for US customers as it downsizes three of its stores by around 20%, its parent company’s finance director has said.
Following Primark’s uplift in full-year sales and profits Associated British Food’s (ABF) financial director, John Bason, said some US stores were reducing in size, including Braintree, Greater Boston, which will be reduced by 10,000 sq ft to 40,000 sq ft. The other two shops have yet to be disclosed.
Bason said the retailer is wary of expanding “too quickly”, but added that it would not “drastically reduce” the size of future stores in the US: “We’re not going to suddenly start opening 10,000 sq ft stores. We’re seeing what works for US customers, seeing how it goes, and working with the footfall we’ve got.
”The US is a very new market for us. While UK customers know Primark well, in the US, there’s a lower amount of awareness.”
He added: “US consumers love the prices, but also the store economics and the size of stores. All in all, though we’re taking space out at three stores, we’ll still be increasing space there overall as we add new ones.”
After opening three stores last year - two in Massachusetts and one in New York - and expanding its Downtown Crossing store in Boston by 20% to 90,000 sq ft, Primark will open another shop in Brooklyn next year.