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Licensed product remains ‘in great demand’ says Primark

Brands as diverse as Lilo & Stitch and Stranger Things have been named as success stories for Primark in its Q3 trading statement, which was released today (20 June) by parent company Associated British Foods.

Indeed, the retailer said that Lilo & Stitch proved to be one of its top performing ranges from the ongoing partnership with Disney.

In addition, the new Stranger Things collection (pictured), timed for the launch of the fourth season on Netflix, met an ‘exceptionally strong’ customer response.

Overall, sales in the quarter at Primark were 81% ahead of last year and year to date were 69% ahead of the comparable period last year. Sales in the quarter were 4% higher than the comparable pre-Covid period three years ago.

Like for like sales have been improving since the half year and for the quarter were 9% below pre-Covid levels three years ago. In the UK and Republic of Ireland like for like sales have improved markedly, while in Continental Europe performance only started to improve at the end of the quarter following the removal of remaining Covid restrictions.

Primark remains on track to deliver a full year adjusted operating profit margin of some 10%.

When it comes to the UK in particular, total sales were well ahead of last year, with a 61% increase and 2% ahead of pre-Covid levels three years ago with like for like sales 4% below.

Primark also officially confirmed that it would begin a Click & Collect trial in up to 25 stores towards the end of this calendar year.

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