Leopard print keeps Primark ahead of pack

ANIMAL print skirts and faux sheepskin coats helped Primark shine in the High Street’s Christmas gloom.

Sales at the bargain chain, which is owned by Associated British Foods and sells its products online, climbed 1pc in the UK in the 16 weeks to January 5.

The figures were a relief for investors following an earlier warning that trading had been tough in November.

ABF posted a 1pc rise in revenues, sending shares up 7pc, or 152p, to 2330p.

Sales across all of ABF’s divisions grew apart from in sugar, where they fell 14pc as the business continued to suffer from the impact of lower prices across the EU.

ABF is one of Britain’s biggest food producers with brands such as Ovaltine, Ryvita, Twinings and Jordans.

It also owns major sugar, agriculture and ingredients businesses. Primark accounts for around half of ABF’s annual revenues and profits. Sales at its grocery business rose 2pc, while agriculture was up 5pc and ingredients up 1pc.

John Bason, finance director, said sales of leopard print clothing and so-called ‘teddy’ jackets, were a hit with Primark’s customers.

The retailer’s Christmas success comes as High Street firms battle to attract customers through their doors.

Stores including Debenhams, Marks & Spencer and Mothercare are all facing falling sales as they struggle to remain relevant.

Sophie Lund-Yates, equity analyst at Hargreaves Lansdown, said: ‘Growth may be slightly slower than we’ve seen in recent updates, but the fact is positive sales growth is a feat many stores simply aren’t managing at the moment.

‘All-in-all, Primark’s in a position some of its rivals can only dream of.’