Despite the struggling high street and competitors slashing prices, Primark sales rose over Christmas ans New Year – and now it’s planning to open it’s biggest ever UK Store.
Primark profits are “well ahead” of last year, despite the problems on the high street.
The fashion chain saw sales rise 4% in the 16 weeks to January 5 as it opened more stores. There was better-than-expected festive performance too, with total sales up 1% – although there was “modest decline” in like-for-like sales.
The group added that despite the overall modest decline in global like-for-like sales, profits were “well ahead” at Primark thanks to a higher operating profit margin.
