Executive Summary

• Primark’s sales increased by 7% at constant currency and by 9% as reported, in the 16 weeks ended January 6, 2018, driven by growth in selling space.
• The company observed “strong” comparable sales in the UK. Unusually warm October weather hindered sales in Europe, although sales improved later in the five weeks to Christmas.
• Management expects Primark’s operating margins for 1H18 to be similar to last year’s levels. The company plans to open 1.2 million square feet of selling space over FY18.