CUT-PRICE clothing chain Primark is set to open another 14 stores worldwide next year, of which four will be in Spain.
Associated British Foods, which owns the budget label, says its company financial year ends on September 12 and it expects its profits for the period to be in region of £300 to £350 million (about €334 to €390m) – a considerable drop on that of the previous year, when declared annual profits came to £913m (around €1.02 billion).
This is largely because Primark stores were closed due to lockdown and did not reopen in most countries until June.
But the shrinking turnover caused by the pandemic has not put the holding company off the decision to open another four branches in Spain, which will bring its national total up to 40.
As yet, the location of these new stores has not been revealed.
To date, the firm – which was originally founded in Ireland – has stores in the capital cities of the provinces of Alicante, Albacete, Almería, Badajoz, Barcelona, A Coruña, Cádiz, Castellón, Córdoba, Huelva, Murcia, Málaga, Sevilla, Tarragona, Valencia (where it has two – one in the city and one in Bonaire shopping centre), Valladolid, Zaragoza, Vizcaya province (Bilbao city), Guipúzcoa province (Vitoria-Gasteiz being the capital), Santa Cruz de Tenerife, Las Palmas de Gran Canaria (which also has two), as well as in the regional capitals of Asturias, La Rioja and Navarra – Oviedo, Logroño and Pamplona - plus Algeciras (Cádiz province), Armilla (Granada province), Camargo (Cantabria, near Santander), Churra (Murcia), Majadahonda (Madrid), Orihuela (Alicante), Roquetas de Mar (Almería), Palma de Mallorca, and Santiago de Compostela (Galicia).
Associated British Foods says Primark has made up for lost time over the summer, with the sales leading to a flood of customers – albeit with the correct Covid-proof measures in place, this 'flood' was staggered at the door and numbers inside limited.
Since Primark stores reopened, the average purchase per customer has been considerably higher in volume than before lockdown – evidence of 'a certain level of repressed demand', according to the company.
By the end of the year, Primark's sales figures are expected to come to around £2bn (€2.23bn) when the firm announces its annual results on November 3.
