Primark earnings increase despite a damp summer

Market Watch - The fashion retailer Primark saw annual earnings jump by more than 50% even with a cold and wet early summer.

Associated British foods Owner of Primark reported a 53% rise in operating profits through Primark, to just over £1,1billion from Sept 23 to Sept 24.

Primark’s UK and Ireland sales edged up 0.7% in the year. The group said “Sales of our seasonal clothing, as well as footwear, beachwear, and swimwear, were impacted by wet weather. But a strong Autumn winter trading making up for the turn around”.

Primark intends on new store rollouts across Europe and the US in the year ahead.