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RETAIL CHAIN PENNEYS has seen its revenue go up by 22 per cent on last year.
It is part of the Associated British Foods group, which posted a number of financial highlights for 2013 today.
While group revenue went up 9 per cent to £13.3bn, its adjusted profit before tax went up 13 per cent to £1,096m.
George Weston, Chief Executive of Associated British Foods, said “it was a remarkable year for Primark”. Primark trades as Penneys in Ireland.
Primark’s revenue was 22 per cent ahead of last year at actual exchange rates. ABF said Primark benefited from the recent strengthening of the euro, an increase in retail selling space, and like-for-like sales growth of 5 per cent for the full year.
Trading in northern continental Europe was strong throughout the year and ABF said that sales of the autumn/winter range in the new financial year are “encouraging”.
Adjusted operating profit was 44 per cent higher than last year at £514m.
Ethical trading
Primark is an international brand and said it has “a responsibility to act and trade ethically” as well as “a duty of care to workers throughout the supply chain”.
It is a signatory to the United Nations’ Guiding Principles on Business and Human Rights and said that this year it strengthened its in-country teams of ethical trading specialists. These staff members are “critical in supporting sustainable improvements within supplier factories, and providing greater visibility across the supply chain”.
Primark conducted 1,825 audits in the last calendar year and said that ethical trade training is provided to every new Primark employee.
It has also launched initiatives such as the HERproject, which is focused on health and nutrition education, and a Sustainable Cotton programme to help support workers’ livelihoods and wellbeing.
Primark opened 16 new stores during the financial year, including its second store on London’s Oxford Street. Among its extended and refurbished stores was the Dublin store, which is one of its 257 stores worldwide.
In good news for its customers, the company said it is to provide a higher ratio of fitting rooms and cash registers to “ensure a smoother experience” for them.
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I’d say my two daughters are responsible for 21% of this 22% figure
Green thumbs up if you love Penneys.
And still no Penneys in Liffey Valley.
Makes no cents…
None in or around the grafton st shopping area either
The one on O’Connell street isn’t that far away in fairness..
Curry chips it’s a 2km walk on busy streets and traffic loadsa shopping bags. No thanks.
Badly needed in Liffey Valley!!!
Thanks, pennys.
No wonder-girls from all over the EU are crazy about it and its prices
Hey Penney’s, want to increase your sales and profits even more? SELL YOUR CLOTHES ONLINE PLEASE!
No one has mentioned the amount of people employed by Penneys in Ireland,from there head office in Dublin,retail staff,,to the distribution network,and knock on jobs,,they must employ 1000′s of people,,
Fair play to the success and lets hopes it continues
The people of Bangladesh say thank you.
The wonders of slave labour.
Is penny’s contributing to the horrible and cheap way young irish girls are dressing ..
No don’t blame penny’s for the Irish skanks. They’d wear that shit of penny’s sold it or not.
Primark realised a statement 2 weeks ago as they are the only retailer who came forward who had workers in that building that collapsed and they paid every member of the family compensation for what happened. So Yes they did!!
People have short memories. Have the families of the people killed in the Premark factory collapse been compensated yet ?
”Last month, IndustriALL called some of the world’s largest retailers in together in Geneva for a meeting to discuss a £47.2m compensation fund for the workers injured in the disaster, and the families of those who died.”
- so NO – but Primark intend to – or at least they say so . many of others others have even signed up to the new Safety code as yet .
Profits from slave labour -
and we are all guilty to some extent . some in those Bangladeshi factories work 17 hour shifts day after day .
Main defaulters re signing up to safety code are US firms
- some more info
http://www.huffingtonpost.com/2013/05/17/bangladesh-factory-safety-accord_n_3286430.html#slide=2463111
Penneys the poor people’s Brown Thomas!
Brown Thomas… Penneys for people with more money than sense!
$200 compensation for the loss of a family member..thats fantastic from Primark. And its also necessary for the victims to produce DNA evidence to prove they lost a family member.. absolutely disgraceful. Check out the Clean Clothes Campaign. About time people became more informed
Primark is an Irish success story, founded & developed by Arthur Ryan but owned by Canadian family business The Weston’s.
I ♥ pennys….
Also easy when the prices of the clothes has gone up so much recently. The price of kids clothes has nearly doubled in the last couple of years.
George Weston who is chairman of ABF, the owner of penny’s/ primark is British… His father was a brother of the brown Thomas Weston’s…. No connection between both companies
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