Primark (LSE: ABF) FY18 Pre-Close Trading Update: Increased Selling Space Drives Sales Growth

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Key Points

  • Primark guided its FY18 sales to grow 5.5% year over year on a constant currency basis, driven by an increase in selling space, offset by a 2% decline in same-store sales.
  • The company expects its operating margin for FY18 to be 11%, well ahead of the 9.8% reported in 1H18 and last year’s margin of 10.4%, led by favorable exchange rate movement.

FY18 Pre-Close Trading Update British conglomerate ABF has reported its FY18 pre-close trading update. This report will focus only on Primark, ABF’s retail segment. Sales ABF expects Primark’s FY18 sales to grow 5.5% year over year on a constant currency basis, driven by an increase in selling space, offset by a 2% decline in same-store…

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