As Shein discount retailer is gaining traction worldwide, the British retailer bets on physical stores to fuel growth. It plans 47 new stores in the U.S. in 5 years. This expansion is also European with 11 openings in 2022.
Despite a 5% drop in sales to US$7.4 billion (fiscal year ending mid-September 2021 via 399 stores), Primark opened 15 new stores last year including in Philadelphia, Marbella, Rome, Prague and Calais. This physical expansion is going to continue.
The retailer wants to quadruple a store footprint in the U.S.A., growing from 13 to 60 stores in the next 5 years. An ambitious goal, when you consider that in 6 years, only 13 points of sale have opened since the U.S. entry. To facilitate...
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