Primark owner Associated British Foods (ABF) has said that sales are expected to be 22% up on last year, helped by the strengthening euro and an increase in selling space.
In a statement, ABF said: “Like-for-like sales growth in the first half was flattered by an exceptional start to the year with the benefit of seasonal autumnal weather in 2012 compared with an unseasonably warm autumn in 2011. In the second half, although growth was subdued during the very cold months of March and April, trading during the summer months was strong and built upon the success of the same period last year. Trading in our stores in northern continental Europe has been strong throughout the year and like-for-like growth in Spain, initially held back by the large number of new store openings, has improved.”
In the year, Primark opened 16 new stores, with a million square feet of selling space scheduled for the new financial year and an extensive programme of openings in time for Christmas 2013.
The company’s first store in France, in Marseille, will open in December.
