Penneys and its parent break record €5bn sales

Sales at Penneys and Primark have reached a new record.

The clothing giant's parent company has reported sales of over €5bn euro in the 12 months to September.

The company, ABF, reported an operating profit on its retail arm of more than €1bn euro for the year.

It has attributed the strong growth to cutting its operating costs and the extension of its stores in Ireland, the UK and Spain.