Skip navigation

Gloucestershire Business News

Huge lockdown losses for Primark

The owner of value fashion retailer, Primark, estimates it will lose £375 million in sales from temporary Covid-19 closures in all of its major markets.

As of today (2nd November), all Primark stores in Ireland, France, Belgium, Wales, Catalonia in Spain and Slovenia are temporarily closed, representing 19 per cent of its total retail selling space, as reported by Reuters.

When the government's closure of non-essential shops in England for four weeks goes ahead from Thursday (5th November), 57 per cent of the retailer's total selling space will be out of action.

Primark, which has stores in Cheltenham and Gloucester, had been trading strongly since its stores reopened in June, achieving record market share in August and early September.

The company, which doesn't sell online, said it was implementing operational plans to manage the consequences of the latest closures, including reducing operating costs.

Adjusted operating profit for Primark will be above its previous prediction of £300-350 million, but down from £913 million the previous year.

Related Articles

Punchline Talks! Cry for help from the wedding and events industry Image

Punchline Talks! Cry for help from the wedding and events industry

Making people redundant has replaced supplying staff for major events as the main job for the boss of an agency as the coronavirus pandemic continues to wreak havoc with the industry.

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Friday, November 27 Image

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Friday, November 27

The latest important news and updates from across Gloucestershire as the coronavirus crisis continues.

Sentencing to be doubled for assaults on emergency workers  Image

Sentencing to be doubled for assaults on emergency workers

Gloucestershire Fire and Rescue Service (GFRS) and partners have welcomed plans to increase the maximum penalty for assaulting an emergency worker from 12 months to two years.

Arcadia latest retailer on edge of administration Image

Arcadia latest retailer on edge of administration

The Arcadia retail group - which includes well-known high street names such as TopShop, Burton and Dorothy Perkins - could be heading into administration within days.

Copyright 2020 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.