Primark expects sales to be up 4% on last year

Primark has said that its first half sales are expected to be 4% ahead of the same period last year. The uplift was due to increased selling space, although like-for-like sales have been down 2% in the 24-week period which ends on 2^nd March.

Primark said that pre-tax profit will come in “well ahead” of last year due to the achievement of higher margins.

Four new stores were launched in the period in Seville and Almeria in Spain, Toulouse in France and Berlin in Germany. In the UK Primark moved to larger premises in Harrow and extended its store on Merry Hill.

Primark is also planning to open new UK stores in Hastings, Bluewater, Belfast and Milton Keynes in the current financial year. New shops will also launch in Bordeaux, Brussels, Wuppertal and Utrecht.