Primark Christmas sales slowed
By Sarah Wood | 23rd January 2024
Sales growth slowed at Primark during the festive trading period, due to unseasonable weather.
Sales at the fashion retailer, which has stores in Gloucester and Cheltenham, rose 7.9% to £3.4bn in the 16 weeks to January 6, down from an 18% rise the previous year before, as reported by Retail Gazette.
Like-for-like sales edged up 2.1%, driven by a rise in average selling prices - a significant slowdown from the 8% growth in the previous quarter.
In the UK, total sales were up by 4.5%, with sales in the run-up to Christmas helping to offset slow sales caused by warm weather at the start of the quarter.
Across the rest of Europe, sales were up 8.1%, while US sales soared by 45%, boosted by new store openings.
The retailer's owner, Associated British Foods, warned that Primark could face new supply chain issues and rising costs due to the Red Sea disruption.
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