Primark shoots up its sales by 81% in the quarter and invoices 2,000 million worldwide | Economy
The textile chain Primark registered sales of 1,727 million pounds (2,000 million euros) in its third fiscal quarter, ended on May 28, which represents an increase of 81% over the same period last year, according to Associated British Foods reported this Monday, group owner of the clothing firm. The data indicates a clear recovery after the covid hit, although turnover is still 9% below pre-pandemic levels in comparable terms.
The company, which has resisted boosting its sales in the channel on-line and has opted for physical stores, it is going to launch a new shopping service on-line and store pickup (click-and-collect) in the United Kingdom for children’s clothing with the aim of increasing sales. The system will begin testing at the end of the year in 25 stores in the North West of England.
This new service comes after Primark launched a new Web in the UK, which allows customers to check the availability of products in stores, but the company does not yet allow direct purchase in any of the countries where it is present. Traffic on the new British website is up 60% compared to a previous version, which contained only part of its catalogue. Primark suffered a lot during the lockdowns because it had to close its stores, without a digital sales system to compensate.
After the advanced sales results this Monday, the British chain has managed to increase its income by 69% so far this fiscal year, to 5,267 million pounds (6,100 million euros). All stores have remained open during the third quarter, while in the same period a year ago there were quite a few establishments closed until April 2021. The recovery of tourism, which has made grow sales of products for the summer and the beach (particularly swimwear), and return to face-to-face work.
At the end of May, Primark had 403 stores and plans to open another five stores before the end of the year, including Chieti and Bologna (Italy), Brno (Czech Republic), Tallaght (Ireland) and New York (USA). ).
“We are making good progress in developing a strong pipeline of new stores for the next fiscal year and meeting our ambition of reaching some 530 stores by the end of our fiscal year 2026,” according to the company.
