This ad will be closed automatically in X seconds.

Year of ‘resilient performance’ from Primark

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.”

Want to read more news like this? Simply sign up to our daily digest in the box below. You can also follow @LicensingSource on Twitter.

Retailer set to explore the future role of the shop in customers' lives....
Store features character IPs from Line Friends, Brown & Friends and BT21....
Strong doll sales set solid foundation for Bulldog’s licensing programme....
LA-based brand reveals collection inspired by the iconic Sunset Strip in Los Angeles....
Cruella, Ursula and Maleficent are the new stars as company expands Disney partnership....
Brandgenuity continues to build licensing programme for TV explorer and survivalist....
Get the latest news sent to your inbox
Subscribe to our daily newsletter