The retailer continues to expand its digital offering as Primark adapts to changing shopper habits in the wake of its COVID shutdown.
Primark's owner has revealed an expansion of its burgeoning click-and-collect operation, while confirming that price increases at the retailer will help it grow annual profits by more than expected.retail arm and its food operations, such as Twinings, over the last quarter had driven the adjustment to its annual forecasts.
The company said it now expected adjusted operating profit for the year to 16 September to be"slightly better" than its previous expectation.ABF expected annual sales growth at Primark to come in at 15%, with the bulk of that figure being put down to"selected" price rises rather than higher sales volumes.
It also credited new stores along with its fashion ranges and predicted that same store sales would be 9% higher on an annual basis. Discount retailers have largely seen resilient trading during the cost of living crisis to date, given shoppers' determination to keep non-essential spending to a minimum., which is set to disappear from UK high streets with the loss of more than 12,000 jobs due to its struggles getting to grips with post-pandemic challenges.
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