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Gloucestershire Business News

Primark sets sales records since store reopening

Several new sales records were set in Primark stores following the reopening of stores on 12th April, the owner of the discount fashion retailer said.

AB Foods said sales at Primark, which has stores in Gloucester and Cheltenham, hit £1.6 billion in the 16 weeks to 19th June, as reported by Retail Gazette.

The figures show that the retailer, which is one of very few without an online operation, is still the darling of the high street. Its new larger Gloucester store is currently under construction at the old BHS on Eastgate Street.

Sales for the same period last year were £600,000, although stores were closed for much of that time during the first national lockdown.

The big rise in sales means Primark's full-year adjusted operating profit is now expected to be similar to that of 2019-20, compared to original lower forecasts.

Primark's like-for-like sales in the third quarter were up three per cent on 2019, suggesting an increase in consumer confidence and willingness to spend.

AB Foods has committed to repaying £96 million of staff furlough funding by the end of the financial year.

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