Primark's recovery from the doldrums of the COVID pandemic continues to gather momentum as its value proposition remains attractive despite high inflation in its key markets.
Primark's owner has reported"very strong" trading over Christmas, admitting that consumer spending was stronger than it had anticipated amid the squeeze on household budgets.In the UK, Primark said much of its 15% lift on the same period last year was achieved on a like-for-like basis, meaning the growth could not be credited to new Primark store openings.
The company pointed to record demand in the run-up to Christmas, with its sales on the continent and elsewhere also rising on the back of its value offering. The prospect of a discounted shopping experience has proved attractive to consumers across much of the western world given the pressures placed on the purse strings from energy-led inflation.Official
for the UK, released last week, showed a surprise drop during the key month of December despite a largely upbeat set of trading updates from listed retailers since the festive season finished.
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