While other stores close branches or go bust, it seems nothing can stop the rise of wallet-friendly clothes-and-more superstore Primark – with the chain planning another 18 branches this year
Primark is planning to continue its seemingly unstoppable rise – announcing that on the back of strong sales it’s planning to open another 18 stores this year.
The fast-fashion chain said it had a “particularly good” November and December, seeing sales rise 4% on last year driven by a “strong contribution” from it’s new shops.
As such, expansion will continue.
“This sales growth was due almost entirely to the increase in selling space,” the chain’s owner, Associated British Foods, said in a statement.
“We now expect to add a net 0.9 million square feet of additional selling space in this financial year,” it added.
“We expect to open 18 new stores together with a number of relocations.”
And the expansion isn’t limited to the UK.
“As previously announced, we will enter the Polish market with a new store in Warsaw in spring 2020, followed by a store in Prague, Czech Republic,” Associated said.
“We have now also signed leases for a further store in Poland, in Poznan, and for our first store in Slovakia, in Bratislava which will take Primark to its fifteenth country.”
Sophie Lund-Yates, market analyst at Hargreaves Lansdown, said: “Primark is proof not every retailer struggled this Christmas.”
She added: “What’s most striking about Primark is it’s essentially an old school retailer. Lack of a meaningful online business makes the chain a high-street play, so the improvement to sales performance is even more impressive.”
Where the new Primark stores will be
Primark is still negotiation exact locations for 8 of the stores, but confirmed to Mirror Money the following 10 locaitons.
- Trafford Centre, Manchester
- Mons, Belgium
- American Dream, New Jersey
- Lens, Noyelles SC, France
- Strasbourg, France
- Paris Thais
- Paris Plaisir
- Rome (South) – Bellavita
- Barcelona – Plaça de Catalunya, Spain
- Warsaw – Galeria Młociny
- Berlin Gropius, Germany
source : www.mirror.co.uk