A surge in festive profits could lead Primark to a record £1bn profit this year.
Although like-for-like sales in the UK dropped by 0.5%, overall sales rose 3% in the 16 weeks to January 4, boosted by new store openings.
Shares in Associated British Foods, which owns the low-cost retailer, rose by 106p, or 4.1%, to £26.61, valuing he conglomerate at £21bn.
Primark, which has 7.5m sqft across the UK, said it would only open one UK store in 2020, at the Trafford Centre in Manchester. Instead it will focus on overseas expansion.
