Irish apparel retailer Primark, part of Associated British Foods, has reported revenue of £3.14bn ($3.87bn) for the year to date (YTD), up by 18% from the same period of last year.
For the 16 weeks to 7 January, the retailer’s like-for-like (LFL) sales rose by 11%, driven by higher unit volumes and average selling prices among other factors.
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On a regional basis, Primark’s sales in the UK increased by 15% from last year, driven by LFL growth.
The retailer’s shares in the UK’s clothing, footwear and accessories market by value, for the 12 weeks to 11 December, were 7.0%, up from 6.5% a year earlier.
Elsewhere in Europe, Primark’s sales grew by 16%, with increases in all markets, and its LFL sales were 8% higher than last year.
Primark recently launched a new e-commerce site in Ireland, with more sites expected to launch in the coming months in Germany, Spain and the US.
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By GlobalDataThe company has opened ten stores in various markets in the YTD, including Romania, Italy, France and the US, taking its total store count to 416 as of 7 January.
In a statement, Associated British Foods said: “Primark trading has been good in all our markets and was ahead of expectation. We had a very strong Christmas period.
“Early trading in this new calendar year has been encouraging but macro-economic headwinds remain and may weigh on consumer spending in the months ahead.
“We had an accelerated programme of store openings in the period and remain on track to add a net one million square feet of retail selling space in this financial year.”
In November last year, Primark announced plans to invest £140m in its UK store portfolio over the next two years.
The retailer plans to open at least four stores in Bury St Edmunds, Craigavon, Salisbury and Teesside Park.
