Primark owner says it expects ‘significant progress’ in the coming year as it opens new stores
Associated British Foods said this morning trading to date in its new financial year at its Primark fashion business had been ahead of expectations with improved like-for-like sales compared to the fourth quarter of its last year.
It said trading across its grocery, sugar, ingredients and agriculture businesses had been in line with expectations.
The group said it continued to expect “significant progress” at both the half and full year, in adjusted operating profit and adjusted earnings per share.
Since the year end it has opened two new stores, one in Vigo, Spain, and one in Catania, Italy, bringing our total estate to a milestone of 400 stores, trading from 17.0 million sq ft.
The emergence of the Omicron variant of coronavirus has so far not had much impact on shopper numbers in Primark stores, the finance chief of owner Associated British Foods said this morning.
“In terms of the Omicron variant we haven’t really seen much of an effect on footfall,” John Bason told Reuters after the group updated on trading.
Primark trades from 400 stores in Europe and the United States but does not have an online operation.