Primark sees strong increase in full year sales

Primark have reported that its like for like sales climbed by 10% in the year to September 16^th.

Primark said the increase was driven by the ability of its buying, merchandising and design teams in identifying and delivering key seasonal trends. Sales in continental Europe were 16% ahead of last year.

During the period, the retailer’s adjusted operating profit rose by 3% to £735 million.

Primark opened 30 new stores, including 11 in the UK, across nine countries. This brought the total estate to 345 stores. In the next financial year, the retailer is planning to introduce over 1.2 million square feet of additional selling space. France, Germany and the UK will see the most space added as the retailer opens 19 new stores and relocates and extends some outlets.