Primark sales continue to rise, summer ranges are strong
PrimarkAssociated British Foods
The 12 weeks to 27 May saw the division’s sales rising 13% to £1.998 billion at constant currency. Admittedly, that’s a slightly slower rise than earlier in the financial year with sales in the year to date up 15% to £6.226 billion.
And the parent company said that Primark “has continued to trade in line with our expectations, with summer ranges performing well as the season started in our markets”.
As well as that 13% total rise, sales were up 7% on a like-for-like basis, “supported by higher average selling prices”. It means like-for-like sales growth for the year to date is now 9%.
For the quarter, LFLs rose 6% in the UK and 7% in the rest of Europe. As well as seasonal clothing and accessories, sales in health and beauty products were “particularly strong”.
Importantly too, sales in the retailer’s city centre stores “have continued to be good”. That’s encouraging after those city centre stores were the slowest to recover post-lockdowns as workers continued to be home-based and tourist flows stayed weak. That’s all changed now with life (almost) back to normal.
ABF also said that the deployment of Primark’s “much-improved website” continued, launching in Germany, Spain, Italy, and the US in the period and in France shortly after the period ended. The remaining markets will follow over the summer.
We’ve already heard plenty from the firm about how the website has been driving store traffic and consumer engagement in its initial launch market, the UK.
Primark’s results from new and extended stores continue to be strong and the company is still opening new locations. It opened four stores in the period, in Venice (Italy), Walden Galleria (Buffalo, NY), Toledo (Spain), and Bratislava (Slovakia). The last of these was its first store in Slovakia, which has become its 16th market.
Meanwhile, in the US it has now signed the lease for its first store in Texas.
