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Primark (LSE: ABF) 1Q19 Trading Update: Store Expansion Lifts Sales

Executive Summary

  • Primark grew revenues 4% year over year, at both constant currency and actual exchange rates in the 16 weeks ended January 5. The company missed the consensus estimate recorded by StreetAccount.
  • Primark saw a “modest decline” in comparable sales.
  • The company plans to open 900,000 square foot of retail space in fiscal 2019.

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