Cold and
wet spring compensated
Since the
start of the year the rise is even bigger at 22%, thanks to an excellent first
half of the financial year, when sales of Primark rose 24% due to an immense
rise in the number of shops going up to the holiday period. The third quarter
of Primark (which ends 22 June) first suffered from the cold and wet month of
April, but the better weather in May and June have caused a turnaround.
Parent
company ABF does not release growth numbers on a comparable basis, but
according to an analyst of Investec Securities the comparable sales should be 2
to 3% higher than in the third quarter of the previous year. That is clearly
not as much as the 7 percent for the first six months, but is still
considerably more than British competitor Marks & Spencer. They recently
announced a drop in comparable sales for the eight quarter running.
On 22 June
Primark had 257 locations. The company wants to speed up its expansion in the
next fiscal year and it will open its first French shop in Marseille.
“Deeply
saddened” by Rana Plaza
In its
statement management also looked back on the disaster in Bangladesh, which cost
the lives of 1.100 textile workers. One of Primark’s suppliers had a workshop
on the second storey of the building.
Primark
claims it has donated food to some 1,300 families shortly after the event and
has paid short-term financial compensation to more than 3,300 workers in the
building irrespective of their employer. It also repeated its intent to help
all people affected and who worked for their supplier on the long term.
