UK: Store openings and warm weather boost Primark Q3 sales
Primark increased its year-on-year selling space by 1m sq ft in the quarter
An increase in selling space and warmer weather pushed sales up for UK value fashion retailer Primark in its third-quarter.
In the three months ended 21 June, sales grew 22% at constant exchange rates bringing the year-to-date sales increase to 17%.
This was driven by like-for-like sales growth, a further increase in retail selling space and superior sales densities in Primark's new stores. Strong like-for-like sales growth benefited from the warm weather, and built further on strong trading in May and June last year.
Operating margin remained in line with the first half, benefiting from warehouse and distribution efficiencies and lower freight rates.
Primark increased its year-on-year selling space by 1m sq ft in the quarter, from 9m last year. The retailer opened three stores in the quarter in the suburbs of Paris, in addition to Cologne in Germany, Nijmegen in The Netherlands, Logrono in Spain and Canterbury in the UK.
The group said its plans to open its first stores in the north east of the US towards the end of 2015 remain on track.
Changing textile and other input suppliers may be fraught with difficulties, but it is key to the role of any clothing buyer. And experience and expertise is critical to help buyers avoid pitfalls whe...
Since 2013 Spain has been the second market for Primark, after registering strong growth in 2013 and 2014. Future plans entail the expansion of its retail sales area, and in 2015 it will open a flagsh...
With its cheaper labour and resources, East Africa has already attracted foreign investment, particularly from Asia - as well as business from major international fashion brands and retailers....
This report provides information, analysis and valuable insight on developments relating to the global apparel industry in the following categories: corporate social responsibility (CSR); financial re...
- How apparel retailers should react to Brexit
- Britain votes for Brexit – what happens next?
- US fashion firms share their sourcing strategies
- Retailers warned of high volatility in Brexit wake
- Brexit uncertainty over pending EU trade deals
- Online fabric platform to "revolutionise" buying
- Uniqlo said to be scaling back US expansion
- Better Work Vietnam launches labour law mobile app
- Alliance cuts ties with three more factories
- UK must act with urgency to cut Brexit uncertainty
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Primark Stores Limited: Retailing - Company Profile & SWOT Analysis
- Clothing & Footwear Retailing in Indonesia– Market Summary & Forecasts
- Clothing & Footwear Retailing in Denmark
- Clothing & Footwear Retailing in China – Market Summary & Forecasts