PRIMARK has informed that the second lockdown has brought about £430 million losses for the retailer
Associated British Foods (AB Foods) said this figure was higher than when bosses last month predicted sales would be hit by £375 million.
However, the company said it has recovered some of the costs, with overheads falling 25 per cent during the autumn lockdowns, and early signs that reopened stores are seeing strong sales.
Customers at Primark, which reopened in England have been eager to buy clothes again and long queues have formed at some branches.
To maximise sales and spread out customer numbers, some stores have continued trading through the night, while others have extended opening hours.
Stores in the Ireland, France and Belgium also reopened in the past week.
AB Foods said 34 stores remain temporarily closed, including all outlets in Northern Ireland and Austria, representing seven per cent of Primark’s total retail selling space.
This compares with 62 per cent when the highest number of stores were closed in November.
Since the start of this financial year, new Primark stores have opened in the US – in New Jersey and Florida – with “encouraging” performance from its remaining sites.
Strong sales were also seen in Primark’s first store in Rome in Italy, and a fifth site opened in Barcelona, Spain.
