Dec 4, 2020

Primark says autumn shut down cost it £430m in sales

Budget clothing retailer Primark has increased its estimate of how much the recent lockdowns cost it in lost sales. It now says that autumn store closures meant it missed out on £430m of sales, up from a previous estimate of £375m. However, it said sales since reopening, including in England this week, had "Once again been very strong". Primark does not sell online, and on reopening on Wednesday, pent-up demand saw queues form at several stores, some of which stayed open round the clock. The chain's owner, Associated British Foods, said it expected this financial year - which runs from September - to produce higher sales and profits than the previous 12 months. This new financial year has seen a month-long shut down in England and a host of other curbs in Scotland, Wales and Northern Ireland.

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