If store traffic and sales remain below 2019 levels, the discreet fashion retailer is relaunching a sustained expansion while rationalized square metres. It also confirms no home delivery.
In the year ending September 2022, Primark‘s turnover reached €8.9 billion (down by 10% vs. 2019 on a like-for-like basis) with an operating margin exceeding 10%. The women’s fashion chain, which owns 45% of 409 stores worldwide, stated ambitions for 30 new stores per year by 2026, totally 530 units. That is 122 more than in 2022.
“While the U.K. and Ireland returned to 2019 revenue levels, this is not the case for Continental Europe,” explains Christine Loizy, C.E.O. of Primark France....
Do you have information to share with us?
Article authors