Primark is predicting a 16% growth in sales for its next quarter
The Irish retail chain is expecting a 16% increase in sales for its next quarter, to close at the end of April. Growth that will surpass the 12% recorded last year and which will notably be driven by an 11% rise in retail selling space.
In one year, the brand has expanded its network by nearly 500,000 ft², a network that currently includes 287 stores which altogether represent 10.7 million ft² of sales space. In addition to the success of its five French stores, the Associated British Food subsidiary increased its sales space in the Netherlands by 60%, with 4 new stores, and opened 3 new stores in Germany.
The attractively priced clothing retail chain saw its sales increase 17% in its last quarter, ended on 13 September, to 4.9 billion pounds. A performance that can mainly be attributed to the expansion of the network, with the increase of sales on a comparable basis limited to 4%.
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