Value retail is big business in the USA, and Primark’s launch into the
lucrative American market could potentially boost it’s sales by 70 percent.
The figure, which assumes the retailer is successful following its launch
in the US this autumn, was shared at a meeting organised by broker Shore
Capital with investors and John Bason, finance director of Primark parent
ABF.
Shore Capital analyst Darren Shirley told Retail Week said such a
performance could take growth from “low double digits to close to 20
percent”, in the medium term.
Shirley said he expects Primark to roll out 750,000 square meters of space per annum
in the US if the retailer is well-received by consumers.
He said that management is “quite pleased” with the quality of the seven
stores Primark has taken from Sears. “They’ve been able to go in there
without having to take any dogs,” he observed.
The relationship with Sears represents a significant opportunity for
Primark if it gains traction in the US, he added.
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