PRIMARK SALES SOAR; PLANS BIGGEST EXPANSION IN A DECADE

In The Daily Scoop by Lauren Parker, Accessories MagazineLeave a Comment

The Primark apparel chain is planning its biggest expansion of store space since 2006 as its low prices continue to draw in shoppers without the help of an online offering. The retailer aims to open 29 stores in the current fiscal year, mainly outside the UK, owner Associated British Foods Plc said Wednesday as it reported better-than-expected sales and profits. Now a staple of Britain’s shopping streets, Primark is taking its budget fashion stores across Europe and into the US The latest expansion plan comes after the business tripled its floorspace to about 13 million square feet (1.2 million square metres) over the last decade. Unlike most clothing retailers, Primark relies entirely on old-fashioned bricks-and-mortar stores and has shunned an e-commerce offering. Read more at Business of Fashion

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