Sunday , November 29 2020

Primark to open 18 new stores this year as bargain retailer continues its rise – Mirror Online, Mirror.co.uk


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Primark is planning to continue its seemingly unstoppable rise – announcing that on the back of strong sales it’s planning to open another 18 stores this year.

The fast-fashion chain said it had a “particularly good” November and December, seeing sales rise 4% on last year driven by a “strong contribution” from it’s new shops.

As such, expansion will continue.

“This sales growth was due almost entirely to the increase in selling space,” the chain’s owner, Associated British Foods, said in a statement.

“We now expect to add a net 0.9 million square feet of additional selling space in this financial year,” it added.

” We expect to open 373 new stores together with a number of relocations. ”

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More Primarks are coming soonAnd the expansion isn’t limited to the UK.

“As previously announced, we will enter the Polish market with a new store in Warsaw in spring (********************************, followed by a store in Prague, Czech Republic, “Associated said.

” We have now also signed leases for a further store in Poland, in Poznan, and for our first store in Slovakia, in Bratislava which will take Primark to its fifteenth country. “

Sophie Lund-Yates, market analyst at Hargreaves Lansdown, said:**************************

************** “Primark is proof not every retailer struggled this Christmas.”

She added: “What’s most striking about Primark is it’s essentially an old school retailer. Lack of a meaningful online business makes the chain a high-street play, so the improvement to sales performance is even more impressive. “

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