Fashion retailer reports 8% increase in operating profits to £913 million in 2019.
Primark has seen its profits top £900 million in 2019, with the fashion retailer’s owner – ABF – hailing the ‘resilient performance’.
The retailer – which has this year opened its largest ever store in Birmingham – reported an 8% increase in operating profits to £913 million for the year ending September 14, 2019.
There was also a 4.2% uplift in year on year sales to £7.79 billion, although like for like sales dipped slightly by 2%.
As well as the Birmingham outlet – which includes special Disney and Harry Potter areas – Primark has opened 14 new stores.
Further expansion is also on the cards, reported Retail Sector, with ABF announcing 19 new stores across the UK and in Europe in 2020.
Michael McClintock, chairman of ABF, commented: “Primark will continue to expand its selling space next year, with the most stores being added in France and Spain. Looking further ahead, Primark has a strong pipeline of good quality sites.”
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