Primark issues price increase warning to anyone who shops in its high street stores
28.04.2022 - 11:49
/ ok.co.uk
High street store Primark has warned its customers about some future changes being made in its shops. The retailer, which recently teamed up with Greggs to create a unique experience, has announced that it will increase prices on its upcoming autumn and winter collection.
As increasing costs hit businesses and households across the globe, the budget fashion retailer revealed that it would make “selective” price increases. According to Associated British Foods, which owns Primark as well as other brands, explained that the US dollar had strengthened and that inflation was rising, therefore leading them to make the changes.
Speaking of the move, chief executive George Weston added: “Inflationary pressures are such that we are unable to offset them all with cost savings, and so Primark will implement selective price increases across some of the autumn/winter stock. Get exclusive celebrity stories and fabulous photoshoots straight to your inbox with OK!'s daily newsletter.
“However, we are committed to ensuring our price leadership and everyday affordability, especially in this environment of greater economic uncertainty.” In an interview with Reuters, finance chief John Bason emphasised that Primark would not be increasing the prices of its spring and summer stock. “We will absolutely ensure that we are the best value around, that's not going to change,” he told the publication.
Despite the pending changes, Primark is expecting to see its sales increase as it is opening more stores and is increasing its selling space by 10% compared to the end of 2019. “As a consequence, total sales for Primark in the second half are anticipated to be ahead of the second half of the 2019 financial year, which was pre-Covid,” Associated
.
The website popstar.one is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can
send a complaint on the news if you find it unreliable.