Primark defies retail industry’s year-end slump with strong sales growth

Commenting on Associated British Foods’ interim results for Primark, Robyn Duffy, consumer markets senior analyst at RSM UK: 'Today’s results from Primark defy the retail industry's year-end slump with a robust performance. Despite prevailing market headwinds, the retailer’s prudent pricing strategy, marked by selective increases and steadfast value proposition, continues to resonate with cost-conscious consumers and underpins the business’s long-term resilience.

'Strategic measures including careful stock management and cost containment have helped to significantly improve Primark’s operating profit, marking a close to the business’s battle with inflation, and an impressive recovery of margin. Furthermore, the expansion of click-and-collect services underscores Primark's adaptability to the evolving digital landscape, promising further growth opportunities.

'The outlook for Primark remains promising, fuelled by continued store expansions to drive volume and investment in digital advancements. With a firm grip on its operational levers and unwavering consumer appeal, Primark stands poised for a bright future in the fast-fashion realm.'