Sales growth at the Primark discount fashion chain has accelerated over the last eight weeks as falling fuel prices boost shoppers’ disposable income, Associated British Foods said yesterday.

Primark opened its doors in France last month, the same year they recorded a 44% increase in yearly profits.

Primark/Penneys is one of Europe’s fastest growing fashion chains. And it has nothing to do with the web, says Sarah Shannon

Associated British Foods said sales growth slowed at its Primark clothing chain as business conditions returned to normal after an “outstanding” start to the year.

Penneys-owner Associated British Foods is set for a big jump in full-year earnings as shoppers snapped up bargains at its discount fashion chain and shrugged off the distractions of the Olympic Games and depressed economic growth in western Europe.

THE owner of discount fashion chain Penneys has reported sluggish sales in Britain although consumer demand is holding elsewhere in Europe, including Ireland.

BUDGET retailer Primark, which trades as Penneys in Ireland, has said that sales and profit will be well ahead of last year but its rapid growth has slowed.

SALES and profit at Primark, which trades as Penny’s in Ireland, will be well ahead of last year.