Skip navigation

Gloucestershire Business News

Primark shows no signs of a halt in expansion of retail space and revenues

Sales at UK Primark stores were up by four per cent over the busy Christmas period.

A trading update released by Primark's owner Associated British Foods said that Primark's continued success was largely down to its ever-increasing store count.

One of the few retailers to have no online sales platform, Primark have bucked the retail trend by opening huge stores across 15 different countries.

Their Birmingham superstore, which opened in April 2019 covers 161,000 square feet over five floors helped the chain extend its retail space from 15.1million sq ft to 15.8million in the past year.

A statement released by Associated British Foods said: "Trading at Primark has been good in this first quarter.

"Sales were 4.5 per cent ahead of last year at constant currency and 3.0 per cent ahead at actual ex-change rates. T

"his sales growth was due almost entirely to the increase in selling space. Like-for-like performance improved, driven by a marked upturn in the Eurozone.

The UK continued to perform well. Sales were 4.0 per centahead of last year, driven by a strong con-tribution from new selling space with a marginal decline in like-for-like sales for the period.

"As a consequence we delivered a further increase in share of the total clothing, footwear and acces-sories market. Trading was particularly good over November and December."

The statement added that the Primark retail estate is expected to grow further in 2020 with a total of 18 new stores planned.

"We now expect to add a net 0.9 million sq ft of additional selling space in this financial year. We expect to open 18 new stores together with a number of relocations and selling space will be reduced in a further store in Germany."

Related Articles

New county retirement apartments lead the way in renewable energy Image

New county retirement apartments lead the way in renewable energy

A collection of 65 new retirement apartments in the centre of Cheltenham is the first local retirement development to use pioneering technology to cut its CO₂ emissions by up to 75 per cent and reduce energy bills.

Small firms say points-based immigration system can work Image

Small firms say points-based immigration system can work

Nearly four in 10 small employers have struggled to recruit the right staff over the past year, with more than a third citing the unwillingness of UK citizens to work in their sector as an issue, according to the FSB.

Publisher of Gloucester Citizen and Gloucestershire Echo sees revenues fall by £20million Image

Publisher of Gloucester Citizen and Gloucestershire Echo sees revenues fall by £20million

The publisher of the Gloucester Citizen and Gloucestershire Echo newspapers have seen revenues fall by more than £20million in the past year.

Engineering firm builds bridge to growth and profits Image

Engineering firm builds bridge to growth and profits

A firm known world-wide for building bridges has engineered a road back to profit and a £26.8 million turnover.

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