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Summer lines doing the business for Primark as sales grow 13% for third quarter

Associated British Foods has revealed its third quarter trading update for the 12 weeks to 27 May, with Primark seeing its sales grow by 13% for the period.

The fast fashion retailer also saw like for like sales growth of 7%, supported by higher average selling prices. Like for like sales growth for the year to date is now 9%.

In the UK, like for like sales growth for the quarter was 6%, while it stood at 7% in Europe (excluding the UK).

Seasonal clothing and accessories performed well, while sales in health and beauty products were also particularly strong. Sales in Primark’s flagship city centre stores have also continued to be good.

The deployment of the retailer’s improved website also continued, with the site launching in Germany, Spain, Italy and the US in the period, and in France shortly after the period ended. The remaining markets will follow over the summer.

Primark’s bricks and mortar expansion plan also remains on track. The retailer opened four stores during the period – Venice, Italy; Walden Galleria, Buffalo, NY; Toledo, Spain; and Bratislava, Slovakia, its first in that country which became its 16th market.

In the US, Primark has also signed the lease of its first store in Texas.

Following the results, ABF – which also has major sugar, ingredients and other food businesses – raised its outlook for the full year, having reported sales growth of 16% over the three months to the end of May to £4.7 billion.

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