Primark's expansion keeps going | RetailDetail

Primark's expansion keeps going

Primark's expansion keeps going

Irish fashion chain Primark's parent company, AB Foods, has revealed that the negative exchange rate fluctuations will not pose a problem for the chain's growth, with new stores planned for Italy soon.

American preparations full steam ahead

In the first 9 months of the fiscal year, Primark's turnover grew 9 %, but without exchange rate fluctuations, growth would have reached 13 %. AB Foods does expect the group's profit to drop some 25 million pounds (34.7 million euro), because of the dollar's strong position towards the euro.

 

In the summer of 2016, Primark will open the first of three new Italian stores in Milan. Italy is the second largest European clothing market, but the chain feels it is very hard to find large store locations there, which has hampered its arrival. Once the three stores have been deemed a success, it may add more stores in Italy.

 

Primark mainly has to watch out for cannibalization of its own store network. New stores in the Netherlands and Germany have resulted in lower turnover for its other stores in those areas.

 

In the meantime, the preparations for its first American store in Boston, which should open in September, are going according to plan.

Questions or comments? Please feel free to contact the editors


Carrefour Belgium launches personal shoppers with 90 minutes delivery

19/07/2018

In the intense struggle for the customers' favour, Carrefour Belgium has presented a new service - featuring personal shoppers, delivery within 90 minutes and an app that can be expanded into a market place.

Cultured meat in stores by 2021?

18/07/2018

Commercialization of laboratory cultured meat is coming closer. Pioneer Mosa Meat has raised 7.5 million euros for the construction of a factory that will bring an affordable product to the market within three years.

Aldi commits to renewable energy

17/07/2018

Aldi Nord has published an ambitious international climate policy: the retailer wants to reduce greenhouse gas emissions by 40% by 2021 and reveals some compelling figures in its second sustainability report.

Discounters' major opportunities for growth in Western Europe

16/07/2018

Despite the multitude of stores in most European markets, discounters plan to open up to ten million square metres of store surface in five years' time. Even in so-called saturated markets they still see a lot of chances for growth, LZ Retailytics says.

Contamination bites huge chunks of Greenyard's value

16/07/2018

Vegetable producer Greenyard is under attack after a listeria contamination in its Hungarian factory. The company says to have taken all necessary measures, but the share price plummets.

Starbucks dumps plastic straws worldwide

12/07/2018

American coffee company Starbucks will ban plastic straws in their stores starting from 2020. A small step for coffee enthusiasts, but a big step for the environment, as the coffee giant uses about a billion straws every year.