Pri­mark hit by un­sea­son­ably warm weather

Apparel Online - - Retail Current -

Un­sea­son­ably warm weather in Oc­to­ber last year has re­port­edly taken a toll on the sales of Pri­mark, the Ire­land-based fash­ion re­tailer. How­ever, the re­tailer – owned by As­so­ci­ated Bri­tish Foods (ABF), is hope­ful to re­port growth in sales dur­ing the se­cond half of this year with im­proved profit mar­gins.

John Ba­son, CFO of AFB, said: “With growth like that for Pri­mark, which is the largest vol­ume player in the mar­ket and up against on­line com­peti­tors, we ob­vi­ously are do­ing some­thing right. The newly opened shops al­lowed Pri­mark to note a 9% surge in the first half of its fis­cal, in par­tic­u­lar. It is be­ing said that de­spite the Fall de­cline, the re­tailer’s sales will surge by 1% for the 16 weeks pe­riod to March 3. Record sales dur­ing the week be­fore Christ­mas 2017 bol­stered growth. Pri­mark is widely present across Europe and is now ex­pand­ing in the United States as well. It is fo­cused on in­creas­ing its store range. Presently, it has 170+ stores in the UK, and in Ire­land and Western Europe as well. Re­port­edly, Pri­mark will launch new out­lets this year as well: 1 in Mil­ton Keynes, a new out­let in Kent, and in Birm­ing­ham as well.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.