Primark will open 10 new shops before Christmas as it continues with its expansion plan, the budget fashion retailer’s owner Associated British Foods (ABF) said. The announcement comes after ABF held firm on its trading guidance for the year ahead of its annual general meeting on Friday.
Michael McLintock, chairman of the business, maintained its forecasts despite warning the company expects “further significant input cost inflation” over the current financial year. However, the firm said cost volatility has “diminished” since its previous update.
Mr McLintock added: “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.”
