Primark said it plans to invest €100m in stores in Spain 

Meanwhile, Swedish fashion retailer H&M will cut some 1,500 jobs as part of its cost cutting drive

As part of its expansion plan, the company will add 1,000 new employees over the next two years, it said.

Fashion retailer Primark said it plans to invest €100m to open new stores and refurbish existing ones in Spain, its second largest market after Britain.

The clothes retailer, owned by Associated British Foods (ABF), will open eight new stores throughout the country, including on the island of Lanzarote and the enclave of Melilla, the company said in a statement.