Primark signs with
Sears to enter the American market
In the next 12 to 18 months, Primark will be opening nearly 400,000 square feet of retail space in the Northeastern United States. The Irish brand specialized in affordable fashionable clothes has just signed an agreement with Sears Holdings, the department store group, for seven locations.
The biggest store will cover nearly 100,000 square feet of space. It will be located in what is the biggest mall in America: the King of Prussia Mall. Located in the King of Prussia area, near Philadelphia, Pennsylvania, the mall has a total retail floor space of 2,391,000 square feet (the equivalent of the Tuileries Garden in Paris).
Another Primark location, as of 2016, will consist of 70,000 square feet in Staten Island Mall in the state of New York. Here, as with most of the future stores, Primark will be located next to a Sears store.
This agreement is notably in line with the Sears strategy to optimize and reduce its retail floor spaces. The American group, which has been reporting losses for the last several quarters (573 million dollars for the period ended August 2) has a network of more than 2,000 stores in the United States and Canada in the form of Sears, Roebuck, and Co and Kmart Corporation stores.
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