Fashion retailer Primark has reported that its like-for-like sales are improving after a slow festive period and the company’s profit margins are increasing after “a lower level of markdowns fuelled by a well-managed stock position".    

Commenting, Primark’s parent company Associated British Foods, said: “Following a strong performance at the start of the financial year, trading was weaker in the weeks leading up to and over Christmas as a result of unseasonably warm weather across northern Europe," adding "Cumulative like-for-like sales have improved since the January trading update and are expected to be level with last year in the first half after better trading during the period since then.”

In France, like-for-like sales kept the fashion retailer afloat, whilst costumers in America have responded well, which will result in Primark opening six more stores including a 70,000 sq ft store in New Jersey in the American Dream mall. Italy will also be welcoming its first store in Arese, due to open in April as well as a store in a mall north of Florence in 2017.