Primark news and archive

Primark to invest 50 million euros into Italian retail network

Budget retailer Primark has said that it will be investing 50 million euros into its Italian retail footprint, with five new stores to be a part of the expansion plan. The news was shared by the director of Primark Italy, Luca Ciuffreda, who said in an open letter that the move will take its retail network in the region to 20 stores over the...

Business

Primark says 55 percent of clothing sold this year was ‘sustainably sourced’

Budget retailer Primark has published its second Sustainability and Ethics Progress Report in which it stated that it remains “on track to delivering its promise to offer more sustainable affordable fashion to everyone”. According to the company, the defining achievement was that 55 percent of all clothes sold throughout the past 12 months...

Business

Strategic price increases drive Primark's growth

Primark's sales growth in FY23, posted by owner Associated British Food this week, highlights strategic measures that propelled the clothing retailer's success. Like-for-like sales surged by 9 percent, generating 9 billion pounds in revenue. Adjusted operating profit, slightly lower at 735 million pounds with an 8.2 percent margin, reflects...

ManagementFeatured

Primark records strong annual sales growth

Primark revenues rose strongly during the financial year to September 16, 2023, up 15 percent to 9 billion pounds reflecting a sales increase across its core markets. The company, part of the Associated British Foods plc, said, the performance was driven by carefully selected price increases taken to partially offset high and volatile input cost...

RetailFeatured

Primark continues US rollout in New York and North Carolina

Value fashion and homeware retailer Primark is continuing its international expansion in the US with new stores opening at Smith Haven Mall in Lake Grove, New York and Concord Mills in Charlotte, North Carolina, next month. The two new additions, opening at Smith Haven Mall on November 9 and at Concord Mills in Charlotte on November 16, will...

Fashion |In Pictures Featured

Primark to launch fashion collaboration with Rita Ora

Singer Rita Ora is teaming up with value retailer Primark on a multi-season fashion collection based on her personal style. The debut Rita Ora x Primark collection launches on September 19 and will be available in all Primark stores across its 16 markets, allowing customers to shop Ora’s “famous style for less”. The collaboration is almost two...

Report

Primark expects ‘slightly better’ trading than forecasted in pre close report

Associated British Foods (ABF) has published an update of its financial performance ahead of issuing its full year results for the 52 weeks to 16 September, 2023, which are scheduled to come on November 7. The group, which counts Primark as one of its central brands, said that its outlook for the financial year is expected to be “slightly better...

PeopleFeatured

Primark promotes Damien O’Neill to vice president of US retail

Value retailer Primark has promoted Penneys' Republic of Ireland and Northern Ireland head Damien O’Neill to the newly-created role of vice president of US retail, where he will oversee its 20 stores in the country. O’Neill will relocate to the US, where he will be based in Primark’s US regional office in Boston, joining the US leadership team...

Fashion Featured

Most garments donated to major fashion stores are destroyed, not repurposed

Major fashion stores, including H&M, Zara, C&A, Primark, Nike, The North Face, Uniqlo, and M&S, are falling short in their promises of reusing or recycling donated clothing, as revealed by the largest tracking investigation of its kind. The study conducted by the Changing Markets Foundation, using Apple AirTags to monitor 21 items, found that...

Business

Primark to lower prices of kidswear amid continued inflation

Budget retailer Primark has said that it will be lowering the prices of “hundreds” of essential kidswear products for its upcoming autumn/winter collection. The changes will be applied to select product ranges set to debut in stores towards the end of July. According to a release, Primark’s decision was based upon the continued high levels of...

Fashion |In Pictures Featured

Barbiecore: Fashion and beauty brands team up with Mattel

Mattel’s favourite doll Barbie is the toast of fashion and beauty ahead of the highly anticipated ‘Barbie the Movie’ film release starring Margot Robbie and Ryan Gosling, with the toy company securing over 100 licensing deals across fashion, beauty, and accessories. Everywhere you go you are bombarded with Barbie pink, with the Barbiecore trend...

Fashion Featured

Durability of clothing not linked to a higher price

New research conducted by the School of Design at the University of Leeds has found that price is not an indicator of how long clothes will last, challenging the perception that paying a higher price means better garment durability. The ‘Worn Out’ report, commissioned as part of a wider project by environmental charity Hubbub and clothing...