Primark encouraged by post-lockdown sales but profit to slump – ZAWYA

Primark encouraged by post-lockdown sales but profit to slump – ZAWYA

Primark encouraged by post-lockdown sales but profit to slump | ZAWYA MENA Edition HomeBusinessArticlePrimark encouraged by post-lockdown sales but profit to slump Primark like-for-like sales down 12% in 7 weeks to June 20    Items for sale are displayed inside of a Primark store in the Brooklyn borough of New York, U.S. September 20, 2019. LONDON - Trading in British fashion chain Primark's reopened stores has been encouraging but the prolonged coronavirus lockdown means the retailer's full-year profit is likely to slump by about two thirds, owner Associated British Foods said.All 375 Primark stores were shuttered in March as the pandemic spread. As governments eased lockdown restrictions the stores reopened, including all 153 stores in England on June 15. AB Foods said on Thursday that since the reopening of the first Primark stores on May 4, cumulative sales for the seven weeks to June 20 were 322 million pounds ($403 million) and were 12% lower than last year on a like-for-like basis.All 375 Primark stores were shuttered in March as the pandemic spread. As governments eased lockdown restrictions the stores reopened, including all 153 stores in England on June 15. LONDON - Trading in British fashion chain Primark's reopened stores has been