Top marks: Bright spot that lights up the high street

CLOTHING retailer Primark yesterday showed no evidence that its storming Christmas performance resulted in a New Year sales hangover.

The chain’s owner, Associated British Foods, said Primark’s trading so far this year had been good, particularly in light of the economic climate.

Fuelled by nine store openings in the first half, including a flagship store on Edinburgh’s Princes Street, retail sales for the six months to 3 March are expected to be 15 per cent ahead of last year, with like-for-like sales up 2 per cent.

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The update comes a month after AB Foods reported an “exceptional” Christmas at Primark’s 232 stores, with trading much improved on a sluggish autumn.

It offered further encouragement yesterday as falling cotton prices mean it will see the benefit of lower input costs in the second half of the year. Two of the stores openings were in the UK.

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