Penneys owner: Full-year profit may exceed previous expectations

Discount clothing retailer says its overall profits for 2020 are likely to be better than expected following a strong post-Covid lockdown trading period

Primark/Penneys sees full-year profits exceeding initial expectations thanks to a strong post-lockdown trading performance

Discount clothing retailer Primark – which trades here as Penneys – has said its overall profits for 2020 are likely to be better than expected following a strong post-Covid lockdown trading period.

Earlier in the year it anticipated full-year adjusted operating profit of between £300m and £350m (€340m-€390m).