News 20 April 2021

Primark Reports ‘Record Sales’ In First Week Of Reduced Covid Restrictions

20 April 2021

Primark has felt the strain of the coronavirus pandemic and lockdowns over the past year but things are finally starting to look up for the company now that lockdown restrictions are easing.

Last Monday (April 12), non-essential stores were able to re-open after being closed for more than three months due to the UK’s third national lockdown and Primark has reported it “delivered record sales” in its first week since opening up its doors again.

The chain said more than half the stores broke their own sales records as many of them offered extended opening hours.

“Compared to previous reopenings, this time we have seen excellent demand for our fashion ranges, particularly in womenswear,” the retailer said.

“We expect the period after the reopening of stores to be very cash-generative as we sell the higher-than-normal inventory on hand.

“In line with our normal practice, we have placed substantial orders for merchandise for the coming autumn/winter season.”

As Primark doesn’t have an online store, the company has been hit hard by coronavirus lockdowns, with estimates suggesting the chain has lost £1.1 billion in sales while stores were closed.

However, eager shoppers were desperate to get back into Primark stores when it re-opened last week, with footage emerging online with long queues outside many of the retailer’s shops.

The company has said it is “very optimistic” about its growth, with “a strong pipeline of store openings across a number of growth markets”, particularly in southern and eastern Europe.