Primark sales up 16%

Value fashion chain Primark posted a 16% rise in sales for the 40 weeks to 23 June, driven by a mixture of new stores and underlying growth.

Recent trading at Primark has been "good", its parent company Associated British Foods stated, apart from April when the wet weather hit sales.

The company noted that household incomes were "under pressure" which had driven consumers to seek out price promotions.

Primark's sales figures contrast with those from Marks and Spencer earlier this week, which showed it losing market share to competitors.

Four new Primark stores were opened in the most recent quarter, all in Spain, and the chain now has 237 stores in total.

Overall, ABF said it was on track to report "substantial growth" in adjusted operating profits for the full financial year.