We need your help now
Support from readers like you keeps The Journal open.
You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.
If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.
Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
By continuing, you are indicating that you accept our Terms of Service and Privacy Policy.
PRIMARK SAID IT now expects its sales for the 2011/2012 financial year to be about 17 per cent ahead of last year’s figures.
The remarkable numbers come as much of the rest of the retail sector buckles under the pressure of a recession.
The clothing and accessories retailer, which trades as Penneys in Ireland, said that summer trading in the UK was “particularly strong”, while sales in continental Europe “remained buoyant”.
Owner Associated British Foods (ABF) said like-for-like sales rose by 3 per cent in the year to 15 September and total sales jumped by 15 per cent.
Trading in newly-opened stores exceeded expectations and the opening of a new shop in Berlin in July saw the company’s most successful first day ever.
“Early sales of the autumn/winter range have been encouraging,” Primark added in its pre-close trading update.
The firm said that its operating margins were lower in the first half of the year because it absorbed higher cotton costs instead of passing them to the consumer. A fall in cotton prices in the latter half of the year meant margins increased, offsetting the fall in the first six months.
With the continuing success of the brand, Primark intends to open more stores by the end of the year, bringing the total number of new shops for 2012 to 19.
Full results will be published in early-November.
To embed this post, copy the code below on your site
Really interesting to see how the recession has effected the spending habits of consumers. However penny’s does offer excellent value and great fashion!
Where would we be without pennys.
Sent while wearing pennys t-shirt, jeans & socks!
Well you’d be naked. Not a pretty thought by anyone’s standards.
Well I’d still have my jocks on wouldn’t I?
(you do wear jocks, don’t you!?)
I’m not going to discuss my underwear in public.
Well I’m still not going to discuss it in private!
So stop calling me!!
I bet you wish that was true.
We seem to be veering off topic.
Give it up Damocles, we all know you and Little Jim are the same person!
# fifty grades of shame
Oh! Hang on….
their prices have greatly increased also. anyone notice this?
Roughly twice a year I head to Penny’s and load up on new socks, jocks. Track suits etc Pennys seem to cater a lot more for men then Dunnes do. The quality of men’s clothing in Dunnes is abysmal.
I cannot bring myself to shop at Penney’s or Primark, how on earth can they manufacturer things, ship them half way across the world and sell them so cheaply? There must be some serious exploitation going on somewhere along the supply chain. I also think that they encourage a ‘buy it, wear it, bin it’ culture or ‘fast fashion’ culture in their patrons
Clearly not a parent!! Ha ha. Kids summer ‘disposable’ wardrobe. It doesn’t matter what hardship they get, at €3 for a pair of shorts and a tshirt, sure it nearly costs more to wash them. ;).
And if they’re making such a profit, I don’t think the ‘cutting off your nose to spite your face’ thing is gonna make much of a difference. There are some lovely items in Penneys, wouldn’t shop for all my wardrobe there but always pick up a bargain. Just go with it. :)
I wonder if you pick up something in Penneys to have a look at it do you have to throw in on the ground or is that optional. Seems to be mountains of clothes discarded in front of the racks.
And where do they get their vast amounts of cotton from?
Their profits may be up because people don’t want to spend money in the more expensive boutiques. I went to a wedding recently and the bridesmaid was wearing a penneys dress. Looked lovely but still.
Who are you to look down your nose at someone wearing a bridesmaid dress from Penneys? If that’s all the bride could afford and what she wanted, so be it. Say you were some craic at that wedding
Nowt wrong with it in my opinion. I did bridesmaid a few yrs ago for a friend of mine, dress bought in a boutique and still hanging in my wardrobe 7 yrs later. At least if you buy a dress in penneys, there’s a chance you might wear it again. I think it’s a great idea.
Why isn’t it called primark in Ireland?
People don’t want sasanach stock. lol
We should put in an FOI request to An Taoiseach, to see how many pairs of Knickers drove up the sales figures?
have your say