This ad will be closed automatically in X seconds.

Summer lines doing the business for Primark as sales grow 13% for third quarter

Associated British Foods has revealed its third quarter trading update for the 12 weeks to 27 May, with Primark seeing its sales grow by 13% for the period.

The fast fashion retailer also saw like for like sales growth of 7%, supported by higher average selling prices. Like for like sales growth for the year to date is now 9%.

In the UK, like for like sales growth for the quarter was 6%, while it stood at 7% in Europe (excluding the UK).

Seasonal clothing and accessories performed well, while sales in health and beauty products were also particularly strong. Sales in Primark’s flagship city centre stores have also continued to be good.

The deployment of the retailer’s improved website also continued, with the site launching in Germany, Spain, Italy and the US in the period, and in France shortly after the period ended. The remaining markets will follow over the summer.

Primark’s bricks and mortar expansion plan also remains on track. The retailer opened four stores during the period – Venice, Italy; Walden Galleria, Buffalo, NY; Toledo, Spain; and Bratislava, Slovakia, its first in that country which became its 16th market.

In the US, Primark has also signed the lease of its first store in Texas.

Following the results, ABF – which also has major sugar, ingredients and other food businesses – raised its outlook for the full year, having reported sales growth of 16% over the three months to the end of May to £4.7 billion.

Want to read more news like this? Simply sign up to our daily digest by clicking here. You can also follow @LicensingSource on Twitter and @licensing_source on Instagram.

MORE NEWS
TfLlunchbox500x500
 
Designed by creative agency Crush Creative, the guide includes a set of colourful, illustrated assets that draw on TfL’s heritage and serve as a toolkit for licensees developing products for young audiences....
Tulipop500x500
 
Tulipop Studios - creator and owner of the Icelandic character-based Tulipop IP - is growing into new markets having secured a number of fresh deals....
YakkaDee500x500
 
Rachel Bardill and Liz Keynes - both well known and respected family and children's brand strategists - have come on board to further drive awareness for the preschool show....
AliceBurden500x500
 
In her new role, Alice will be responsible for steering and driving forward the strategic and creative direction of Toon2Tango, focusing on storytelling and creative development....
job
 
H&A is looking to further strengthen its team with the appointment of a supply chain planner....
SManners500x500
 
Industry trade body, Licensing International has responded to Labour's Budget from earlier this week, saying that moving forward 'beloved brands' will be more important than ever before in providing a point of difference....
Get the latest news sent to your inbox
Subscribe to our daily newsletter

The list doesn't exist! Make sure you have imported the list on the 'Manage List Forms' page.