We’re still not bored of Primarni
By Sarah Wood | 25th February 2019
Latest figures from budget retailer, Primark, show that the UK still can't get enough of its fast fashion.
The retailer, known affectionately as 'Primarni' expects half-year sales to grow four per cent compared to last year, driven by new store openings. But like-for-like sales are down two per cent, as reported by City A.M.
Primark, which has stores in Gloucester and Cheltenham, saw sales rise two per cent in the UK and five per cent in Europe, with strong growth in Belgium, Italy Spain and France. However, like-for-like European sales were down three per cent.
Retail space has grown by 300,000 sq ft since the end of the financial year and from 2nd March, the company will have 394 stores, with a total floorspace of 15.1m sq ft, up from 14.3m sq ft a year a go.
Primark said trading in Germany has been more of a challenge, but that its US business is performing well.
Punchline said: "Primark is bucking the trend on the high street. We've all heard about the damaging impact of fast fashion on the environment, but it seems that just isn't enough to put us off a bargain T-shirt or a cheap pair of shoes."
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