From Ireland to Naples: Penneys-Primark opens 500th store 

Penneys Primark chief executive Eoin Tonge joins staff in Naples for the opening of the fashion giant's 500th outlet.

The Penneys-Primark empire hit a significant milestone on Tuesday, opening its 500th store, in Naples, Italy.

Founded in 1969 in Dublin as Penneys but operating in the UK and internationally as Primark, the company now operates in 19 countries in Europe, the US, and Middle East, with 80,000 employees. 

“Reaching 500 stores is an incredible milestone and we’re so grateful to our loyal customers, suppliers and partners who have grown with us and most of all, our colleagues for everything they do," said Primark chief executive Eoin Tonge, the Irishman who took the company hotseat earlier this year. “Getting to 500 demonstrates the enduring strength of our store-led model. We see significant opportunities ahead to grow our store footprint and bring Primark to even more customers around the world.” 

Primark's global footprint covers 20m square feet of retail space.

The new store in La Cartiera shopping centre in Naples represents a €8m investment. Three further store openings are imminent in Portugal, Romania, and the largest shopping centre in the US, Mall of America.

Penneys has 38 stores in Ireland. In June, the company opted to put an e ntire block of Cork city centre properties up for sale priced at €5.2m, after the company scaled back its expansion plan in the city. 

Primark has over 190 outlets in the UK, its largest market. Accounts lodged by Primark in July show that the company’s pre-tax profits increased by 59% to €1.4bn in the year to September 2025.

The retailer's chief executive Mr Tonge stepped in as interim Penneys-Primark boss in 2025 to replace the chain's previous chief executive, Paul Marchant, after Mr Marchant resigned over an allegation of inappropriate behaviour. Mr Tonge had previously served as finance director of Associated British Foods, the parent company of Penneys.

In April, Associated British Foods, the company which owns Primark confirmed it plans to separate its Penneys-Primark fashion chain from its food businesses through a demerger,  following a review of the group’s structure. AB Foods said financial markets will better understand and value both its food businesses, which include brands such as Ovaltine, Ryvita and Twinings, and Primark if the fashion arm has a separate London listing, with its own board and investors.