Irish clothing chain Primark's turnover has grown 13 % in its full fiscal year 2015, mainly thanks to additional store space as that grew 9 % in the same time frame.
Invest in real estate
Over the past year, Primark generated a 5.35 billion pound (7.5 billion euro) turnover, up 13 % compared to last year when turnover reached 4.95 billion pounds (6.94 billion euro). Company profit grew 5 % to 673 million pounds (944 million euro), although exchange rate fluctuations meant only 2 % of that growth remained.
Primark's like-for-like turnover grew 1 %, which means that the majority of its turnover increase comes on the back of additional store space. Currently, the chain has 293 stores, 15 more than one year ago. Primark's parent company, Associated British Foods, invested 613 million pounds (860 million euro) into real estate, half of that destined for Primark. It also opened its first American store on 10 September 2015.
Primark feels its most successful new market is France, while Spain, Portugal, Ireland and the United Kingdom have also performed well.