Primark expects 22% sales increase in FY13

Recent expansion and strong summer sales have lead to Primark’s parent company, Associated British Foods, to state that it expects the chain’s full-year sales to be 22% higher than in 2012.

New stores aside, sales at Primark are up 5% in the second half of the year, helped in part by the recovery of the Euro, a decrease in the price of cotton and fewer merchandise discounts.

Northern European sales also remain strong and the company opened 16 new locations whilst closing two.

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During March and April, cold spring weather held back Primark sales when consumers failed to purchase summer clothing, a pattern seen at retailers throughout the UK.
 

 

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