Advertisement Primark sells 22 percent thanks to strong summer season In a trading update for the y

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Primark closes its fiscal year on Saturday 14th September with stronger than expected results, substantially improving the estimates shoe station for the second half of the year for the parent group, ABF. Affordable fashion chain reported a strong finish to the year thanks to sales amuento 22 percent, based on the warm British summer. "We completely sold our collection spring - summer," said CFO John Bason Primark adding that this is due to a combination of factors such as the recovery of the retail sector, opening 16 new stores and a stronger euro helped in car sales, the BBC reported. shoe station Primark owner Associated British Foods expects sales of its fashion business for the year are 22 over the last year and, consequently, the group now expects profits for the second shoe station half are ahead of market expectations. Despite the quiet growth in March and April due to an unusually cold early spring in the UK, Primark shoe station saw its collection of summer clothes shine through the July heat wave. Following the news, analysts at Panmure Gordon have improved their expectations parae Primark underlying earnings shoe station of 473 million pounds to 505 million. The research firm now expects "another great year in 2014," as reported by the Daily Mail.
Advertisement Primark sells 22 percent thanks to strong summer season In a trading update for the year to date, ABF said that profit margins had exceeded expectations due to low cotton prices and fewer discounts. "In the second half, although growth was subdued shoe station by the very cold months of March and April, the trade during the summer months has been strong and has been a lift on the same period last year," the group said in a statement. Sales at stores open at least a year have also improved by 5 percent. Primark shoe station sales for the year ended September 14 are expected to be more than a fifth over the past year, which has led its parent Associated British Foods to declare annual earnings for the group will be better expected despite concerns about a drop in the price of sugar, reported shoe station the Telegraph. "There is no doubt that there is a point of view much more positive consumers," said Bason. Primark has also confirmed that s will continue its rapid expansion plans abroad, announcing a "comprehensive" program 12 starts in time for Christmas. Primark to open its first store others in France in December. As announced by the retailer shoe station earlier this week, trading stores in northern continental Europe has been strong all year and comparable growth in Spain have also improved after an initial break in the opening of new shops.
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