Primark Plans To Open 7 Flagship Stores To Deepen The US Market.

Primark has outgrown in the past two years. Although the company issued its interim results in April, it warned that the continued strength of the US dollar would weaken the profit margin in the two fiscal year. But in mid July, when Primark updated its three quarter results, it said that the procurement team had taken measures for next year's orders, and it would succeed in neutralizing a considerable part of the negative impact.

After announcing its entry into the US market in October last year, cheap brand Primark announced that its first flagship store in the United States will land on Downtown Crossing in Boston in September. According to the company's previous news, the first store in the United States has an area of about seventy thousand square feet. At the same time, the Primark store in the United States will be supported by Pennsylvania's local storage system independently. Downtown

Primark said it will further expand the US market, and will initially open 7 flagship stores. The site will also focus on competitors H&M, Zara, and local Forever 21 and department store retailers such as Target Taghit, because competitors have gathered a certain number of people.

Before the United States, Primark entered another important market in 2013, France.

However, unlike the French market, the US market Primark will mainly use the North American chain corporation group Sears Holdings Corp. retail space to open up the US market.

According to the agreement reached between the two sides in 2014, Primark has been

The total space of the 7 independent stores is 520000 square feet, about 48309 square meters, and the net retail area is 400000 square feet, which is about 37161 square meters. These spaces will be delivered in the next year.

The above 7 retail spaces are currently identified in Philadelphia's King of Prussia Mall and New York.

The other 5 Sears Holdings expressions will also be announced.

According to the data reported, as of the first 40 weeks (three quarters) in June 20th, Primark sales recorded an increase of 9%, excluding the increase in floating rate after the exchange rate was 13%, and continued to decline from 15% in the first half of the year, mainly because sales area grew from 11% in the first half of the year to 8%.

The three quarter

The failure to achieve growth was due to the high base number in the same period last year and the drag on the performance of the old stores in the two major market new stores in Holland and Germany.

John Bason, chief financial officer of Associated British Foods PLC, Primark parent company, pointed out that the above factors were deleted and there was 2%-3% growth in the same store sales.

The group said that Primark's performance in Spain, Portugal, Ireland and France was very strong, and that there was a positive growth in the same store sales in the UK.