Apr 20, 2021

Primark sees sales surge as lockdown relaxed

Primark has said the number of people visiting its stores in England and Wales since lockdown eased is now back to pre-pandemic levels. The chain said the stores "Delivered record sales" in the first week since reopening after more than three months. As a result, the business has been hit hard by Covid restrictions, and estimates it lost £1.1bn in sales while stores were closed. "We expect the period after the reopening of stores to be very cash-generative as we sell the higher-than-normal inventory on hand." "We estimate the loss of sales while stores were closed to be some £1.1bn and when stores were open, the restrictions resulted in like-for-like sales of -15% compared to last year," it added.

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