Primark has reported a “marginal decline” in comparable UK gross sales through the buying and selling interval protecting Christmas.
The low cost trend retailer’s proprietor, Related British Meals (ABF), gave no precise determine for the autumn in like-for-like gross sales – a measure of enterprise recorded by the identical variety of shops a yr in the past.
Nonetheless, it stated new shops and expansions meant UK revenues have been up 4% within the 16 weeks to Four January.
Whole Primark gross sales have been up 3% – aided by like-for-like gross sales progress within the US and eurozone.
Commenting on the expansion in complete UK gross sales, ABF stated: “As a consequence we delivered an additional improve in share of the whole clothes, footwear and equipment market.
“Buying and selling was significantly good over November and December.
“Gross sales within the eurozone have been 5.1% forward of final yr at fixed foreign money because of the rise in promoting house and like-for-like progress, with robust progress in France and Italy.”
Primark has been among the many constant performers in UK retail as many chains with deep publicity to the excessive road proceed to battle within the face of weak shopper confidence and excessive prices.
As rivals attempt to develop companies on-line to chop prices, Primark has rigidly caught to its retailer roots that are underpinned by a dedication to quick trend at low costs.
Its buying and selling replace signalled that its enlargement in Europe would proceed apace.
The model is to open 18 new shops in 2020 – centered on japanese Europe with its first shops in Poland, Slovakia and the Czech Republic.
ABF shares have been 3% up in early offers.
The broader group reported a 4% improve in revenues over the interval.
It was bolstered by a pick-up in its sugar enterprise and improved margins in its grocery arm.