Penneys owner Primark expects further €810m sales hit from continued closures

Revenues fell 41%, year-on-year, to £2.2bn in the six months to the end of February

Primark - which trades here as Penneys - expects to lose a further £700m (€811m) in sales this year due to closed shops. Picture: Dan Linehan

Discount clothing retailer Primark – which trades here as Penneys – expects to take a further €810m sales hit this year and for its profits to be “somewhat lower” than last year due to a staggered reopening of stores across its main markets.

The Irish-based retailer – which is owned by conglomerate Associated British Foods (ABF) – said its revenues fell 41%, year-on-year, to £2.2bn (€2.5bn), in the six months to the end of February.