Multinational fast fashion retailer Primark issued a trading update for 36 weeks ending on 28 May 2022, summarising the significant trading developments since the last market update.
Fashion retailer Primark saw its sales in the quarter go 81 per cent higher than the comparable pre-COVID period three years ago (to touch £1.7 billion) – all thanks to Primark stores being open this year.
Total sales in the UK were up 61 percent year-over-year, and up 2 percent year-over-three years, while sales in Continental Europe were 106 percent ahead of last year and 7 percent above what it was three years back.
Total US sales in the quarter were 34 percent ahead of pre-COVID levels.
Primark continues to scale its digital capability and has set up a modern technology platform in place. To date, traffic to the new site is up by around 60 per cent, and customers on average are viewing twice as many pages per session.
The company was hit particularly hard during the pandemic, as unlike many of its rivals it couldn’t offset losses from closed stores through online channels.
