Primark sticks to plan for expansion in Europe and US

Primark owner, Associated British Foods (ABF), is sticking with its plans to expand the discount clothing retailer across Europe and the US despite market and currency uncertainty since Britain’s vote to leave the EU.

In the year to date, Dublin-headquartered Primark — which trades here as Penneys — has seen sales rise by 7%, year-on-year in constant currency terms.

That increase has mainly been driven by increased selling space as the retailer continues its European expansion and makes its first foray into the US market.