Primark sales growth on track
Allders stores to be rebranded by autumn
The Primark value clothing chain is seeing healthy sales growth despite a UK retail market in which many clothing retailers are thought to be struggling.
In a trading update, Primark owner Associated British Foods said the business has continued to trade well, with like-for-like sales growth for the year March 5 expected to be around 6 per cent, a similar level to last year.
ABF added that the six new stores, acquired from the administrators of the Allders department store group, will add 0.3m sq ft of selling space and are expected to open under the Primark fascia in the autumn. The business, which trades as Penneys in Ireland, now has 121 stores with 2.4m sq ft of selling space.
[img r]Kingsmillcuttingribbon.jpg[/img]On the brands side, ABF’s other acquisitions in the last financial year – bakery and US herbs and spices businesses acquired from Burns Philp, the canola oil brand Capullo, and the Billington’s sugar business – have performed in line with expectations. The Kingsmill, Twinings and Ovaltine brands also all performed well.
