Primark posts sales growth

A new Post "Primark posts sales growth" was written on the January 21, 2012 at 7:54 pm on "Textile Global - Textile and Fashion News".

Thursday, 19 January 2012

Budget fashion retailer Primark has revealed sales growth of 16 per
cent year-on-year in its results published today, despite the
difficult retail conditions currently being felt on the British high
street. The retailer, owned by Associated British Foods,

 described the like-for-like sales growth as 'good' in the 16
weeks to January 7, without publishing a figure. Adding that the
Christmas period had proved 'particularly strong after a slower
start to the financial year as a result of the unusually warm
autumn' in the statement.

Operating margins were lower in the same period last year due to the
higher cotton costs; however, the report noted that cotton prices have
fallen 'somewhat' from their high point last year and the group
expected to see the benefit of lower input costs over the next six
months.

Primark also continued with its expansion over the quarter adding an
extra 0.5 million sq ft of trading space, with nine new stores: two in
Spain, three in Germany, one each in Portugal and the Netherlands, and
two in the UK including its flagship store in Scotland, which opened
on Princes Street in Edinburgh just before Christmas.

Further openings are planned for the second half including three
stores in Spain, in March.

Image: Primark SS12

Original post:
Primark posts sales growth

http://www.textileglobal.com/2012/01/primark-posts-sales-growth.html

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