RUMOURS OF Arthur Ryan's departure from Primark are routinely exaggerated. But the current bout - which surfaced in the UK papers recently - may gain currency on the back of yesterday's results from ABF, the owner of the low-cost clothing chain.
Underlying growth at the chain dipped, with the 14 per cent increase in third-quarter sales attributed to new store openings.
Has the era of throwaway fashion come to an end? Is value now a matter of buying less but paying more for quality?
Is it time for a new broom, or should Primark stick with the man who has guided its so successfully for so long through several downturns? Worth noting, perhaps, that, bad and all as things may be at Primark, they pale by comparison to the problems encountered by Marks and Spencer, where Stuart Rose won the backing of shareholders this week.
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