Jan 16, 2020

Primark same-store sales slip in the UK

Primark warned of a small decline in same-store sales in the UK, its most important market, though it said that its troubled German operation had shown a "Notable improvement" in its most recent quarter. Across the whole of Primark, sales were up 4.5 per cent at constant exchange rates In the 16 weeks ended January 4. UK same-store sales fell slightly, though the company did not provide a number. Including the effects of new store openings, sales grew 4 per cent in the UK. Primark owner Associated British Foods stressed that the fashion retailer's share of the UK clothing, footwear and accessories market grew and that trading was "Particularly good over November and December" - a contrast to other retailers, who have warned that the period between Black Friday and Christmas was a struggle. Sales at the grocery business, whose products include Twinings teas and Dorset Cereals, were unchanged although margins improved.

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