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Gloucestershire Business News

Primark sales soar

There might be a cost-of-living crisis on, but people are still spending big on value fashion.

Primark's sales surged 19% in the 24 weeks to March 4, as it continues to trial click-and-collect in a handful of stores, as reported by Retail Gazette.

Sales hit £4.3bn for the period, with an operating profit of £351m and a profit margin of 8.3%.

Primark, which has stores in Gloucester and Cheltenham, said growth was driven by both price and volume and said it remains cautious about the resilience of consumer spending.

The retailer started a click-and-collect trial in 25 stores in the North West and Wales last autumn. It is set to expand this, for childrenswear only, to 32 Primark stores in and around London this summer.

It said it will continue to monitor the click-and-collect trial to understand how it could work for more customers.

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