Primark sales rise by 20%

Penneys' owner Primark’s retail success showed no signs of ending today after the chain reported a 20% jump in sales for the current financial year.

Associated British Foods, which also owns the brands Twinings, Kingsmill and Silver Spoon, said Primark’s improvement in the 40 weeks to June 20 reflected store expansion and “excellent” growth in like-for-like sales.

In the most recent 16 weeks of the trading period, Primark’s sales rose by 21% as the chain’s value-for-money offer attracted shoppers during the recession.