Primark loses £1.1bn in sales due to lockdowns

Primark in New York

The fashion retailer said sales in the 24 weeks to February 27 were expected to be around £2.2bn, down from £3.7bn during the same period the previous financial year and that adjusted operating profit would be “marginally above break-even”.

Primark, which does not sell online, attributed this 41% forecasted decline in interim sales to store closures across its global estate due to coronavirus lockdowns.

 

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