Primark Sees Sales Strength And Adds Click + Collect [Forbes]
ASSOCIATED BRI/F UNSP/ADR (ASBFY)
NASDAQ:AMEX Investor Relations:
abf.co.uk/investorrelations
Company Research
Source: Forbes
Primark, the value chain has again reported strong sales, as management of ABF reported 26 weeks results. Revenues rose 6 percent to £4.6 billion ($5,6 billion) from £4.23 billion ($5.09 billion) a year or up 7.5% in constant currency. Operating profit jumped 45 percent. New stores contributed 5.4 percent of sales. Same store sales rose 2.1 driven by higher selling prices that were offset by slightly smaller basket size (the consumer was buying less) and corresponding lower volume. The chain indicated that they were doing well with the Rita Ora collection. She is a musician and singer giving Primark more identity with young people. Primark has completed its Click + Collect trial in the U.K., which reflects good basket sizes and strong additional store sales. “The trial demonstrated that the Click + Collect service is satisfying unfulfilled demand from both new and existing customers by offering them extended choice beyond their local store's offering,” says the ABF (Associate Bri
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