Primark’s finance chief has urged for a “level playing field” on business rates after the fashion giant shrugged off a November sales blip to report a record Christmas.
The cut-price clothing retailer spooked investors last month after warning of “challenging” sales in November. The tough spell resulted in a “modest decline in like-for-like sales” at its shops for the 16 weeks to Jan 5, while total sales rose by 4% across its business.
The sales growth was due to increased selling space – the company opened four new stores around the globe last year, and also moved some branches to larger premises.
Primark said like-for-like sales exceeded its expectations over the Christmas trading period and helped soften the blow of reduced footfall in November. UK sales rose by 1% despite the fashion market declining by 2% over the period.
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