Primark-Penneys to spend €163m on its UK stores   

Investment will include the opening of at least four new stores and will create at least 850 jobs

Primark has said it will hold prices, even as it cautioned input cost inflation will hit its results in the new financial year.

Fashion retailer Primark-Penneys set out plans to invest £140m (€163m) in its UK stores over the next two years, betting on luring customers as Britain grapples with a cost-of-living crisis.

The budget group, part of Associated British Foods, said the investment would include the opening of at least four new stores and will create at least 850 jobs.