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Irish fashion giant Primark has reduced its 2025 forecasts after weaker-than-expected sales in the United Kingdom and Ireland during the Christmas period. The company attributes the decline to more cautious consumer spending and mild autumn weather.
Further expansion
During the final months of 2024, Primark saw its sales in the United Kingdom and Ireland, which account for 45 % of its total sales, drop 6 % like-for-like. The company blames a lower consumer confidence and the mild weather, which reduced demand for seasonal clothing. Group sales still increased by 2 %, driven by new store openings across Central, Eastern and Southern Europe. In the United States, sales even grew 17 %.
As a result of this performance, Primark has revised its 2025 outlook downwards, now forecasting revenue growth in the “low single digits”, supported by further expansion in Europe and the United States. Operating profit is expected to remain stable.
Commentators note that several discounters in the UK experienced a weak Christmas trading period, while higher-end chains like Marks & Spencer reported strong results. Despite these challenges, Primark’s parent company Associated British Foods remains confident in the retailer’s offering and is focusing on initiatives in product innovation, digitisation, and branding to drive sustainable growth.
