Primark owner profits jump despite summer washout [Yahoo! Finance]
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Source: Yahoo! Finance
The owner of the fast fashion brand reported a 43% rise in profits before tax, reaching £1.9bn over the year to 14 September. It said "challenging weather" had hit the number of people visiting its shops between April and June. It comes as the British Retail Consortium (BRC) suggested that shoppers were holding back on spending on bigger-ticket items until the "Black Friday" sales. Overall, Primark sales across the UK and Ireland grew by 0.7%, stripping out the effect of new shops opening. Its owners also said they were hopeful that sales would rise for the low-cost brand towards the end of the year. While sales of summer shoe styles were washed out by wetter weather, "we had a very encouraging start to sales of our Autumn/Winter ranges," it said. The British retailer said it saw a strong performance across its key growth markets, including in the US, France, Spain, Italy and Central and Eastern Europe. Primark saw a 6% growth in sales overall and noted that collaborati
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