Primark Clothing retailer is growing by 4 percent this year. This is mainly due to new stores in Europe and the United States. Turnover fell slightly in stores that have been open for more than a year. This was reported by parent company Associated British Foods, which maintained its expectations for the whole of 2019.
Primark’s profit margin was considerably higher than last year. On the British market, the clothing store chain performed relatively well. Comparable store sales fell slightly, but Primark’s market share is growing.
Associated British Foods expects this year’s earnings to be roughly comparable to last year’s. In addition to Primark, the Groceries division, which also makes Jordan’s Twinings tea and breakfast cereals, performed well. The sugar branch, on the other hand, again suffered from lower sugar prices in Europe.