The parent firm of Primark has said the retail chain saw trading improve in recent months despite “consumer caution”, as its UK and Ireland stores recovered ground.
Associated British Foods (ABF) said Primark sales are set to have grown by 1% over the half-year to September 13, as womenswear and more favourable weather conditions helped support UK stores.
However, like-for-like sales are expected to have dropped by around 2% over the period but were offset by the group’s store expansion plans, with Primark opening 15 new stores including two in the UK.
Primark sales were also strong in the US but were weaker in Europe because of a “more subdued consumer environment”.
George Weston, chief executive of ABF, said: “I’m pleased with how the group has performed in the second half of our financial year in what continues to be a challenging environment, characterised by consumer caution, geopolitical uncertainty and inflation.
“Primark delivered improved trading in the UK and strong sales growth in the US, while trading on the continent was softer in a weaker consumer environment.
“In our food businesses, overall trading in the second half was in line with our expectations.”
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