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Primark’s parent company Associated British Foods (ABF) has announced that it is set to open 10 new stores before Christmas.
As part of its trading update ahead of its AGM, ABF stated that Primark’s trading had been “encouraging” with the retailer set to open 27 new stores in the current financial year.
In recent weeks Primark has embarked on an aggressive expansion across Europe and in the US.
The retailer has already opened two stores in Poland, in Krakow and Katowice, as well as one store in Turin Italy and one in Queens New York. There are further plans to open stores in France, Romania, Northern Ireland, Italy and America.
ABF chair Michael Linlock said: “Our outlook for the full year is unchanged. We continue to expect further significant input cost inflation, but the volatility of our input costs has diminished.
“For the full year, we continue to expect significant growth in sales for the group, and adjusted operating profit and adjusted earnings per share to be lower than the previous financial year.”
