The decision to open more Primark stores was announced at ABF’s recently held annual general meeting, which was led by chairman Michael McLintock.
“At this early stage, Primark trading in this financial year has been encouraging. We are on track to open 27 new stores this financial year, ten of these opening in the run-up to Christmas, and to date we have opened six new stores, including one today in Angers, France,” said McLintock in a company statement.
“Our outlook for the full year is unchanged. We continue to expect further significant input cost inflation, but the volatility of our input costs has diminished. For the full year, we continue to expect significant growth in sales for the group, and adjusted operating profit and adjusted earnings per share to be lower than the previous financial year,” McLintock added.
The fashion retailer had earlier announced several major investment decisions such as its €100 million investment in its Spanish estate and £140 million funding for its UK store portfolio, according to several media reports.
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