Business

Sales at Penneys and Primark fell 75% during lockdown

ABF reports ‘encouraging signs’ since reopening of stores

Penneys on O’Connell Street, Dublin. Photograph: Nick Bradshaw

Thu Jul 2 2020 - 16:10

Penneys and Primark owner Associated British Foods (ABF) has said that sales at the retailer plummeted 75 per cent over the past quarter due to the lockdown.

The retail business saw sales dive to £582 million (€645m) for the period to June 20th after it was forced to shut stores globally in the face of the virus. Primark does not offer online sales.

ABF said only eight of its 375 stores have yet to reopen. It has reported "encouraging" trade from those shops which have welcomed customers again.

The group said that since the reopening of the first stores on May 4th cumulative sales for the seven-week period to June 20th were £322 million – 12 per cent lower than last year on a like-for-like basis.

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Sales in the week ended June 20th, with over 90 per cent of selling space reopened, were £133 million, and trading in England and Ireland was ahead of the same week last year. – PA/Reuters

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