// Primark to open 27 new stores during the financial year, with 10 to launch this month
// Last month, Primark said it will embark on an “aggressive” expansion programme
Primark is set to open 10 new stores ahead of Christmas as it continues its expansion spree.
The retailer‘s owner ABF said Primark’s trading has been “encouraging” and is on track to add 27 new stores during the financial year, with 10 to open this month.
“Our outlook for the full year is unchanged,” ABF chair Michael McLintock said.
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“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.”
Last month, Primark said it will embark on an “aggressive” expansion programme in the US, with plans to grow its presence to 60 stores over the next five years.
The retailer currently has 13 shops in the US, has a further 11 in the immediate pipeline and is set to open three in New York before the end of the year.
New York stores at Roosevelt Field in Garden City, Jamaica Avenue in Queens and City Point in Brooklyn are all set to open during December.
Primark said this will “kick off its growth plan” for 60 store openings across the US by 2026.