Primark plots US expansion with 50 new stores

Primark is plotting to open a further 50 stores in the US within the next five years as it bets on strong sales resurgence post-Covid.

The move comes as part of a wider plan to open over 100 stores worldwide in the same period, taking the fast fashion retailer’s high street offering from 398 bricks-and-mortar locations to 530.

Primark opened its first store in Boston six years ago and plans to go from 13 to 60 outlets over the reported period, with most of its stores currently on the east cost.

It has signed five new leases within the New York region, which include Long Island, Brooklyn and Albany.

“With our current portfolio trading really well, it feels like we’ve established a strong foundation from which to accelerate our expansion in the US market,” Primark chief executive Paul Marchant said.

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Despite the ambitious plans, the retailer has been hit hard by the ongoing global shopping crisis.

Primark parent company Associated British Foods chief executive George Weston added: “Primark’s US stores are being especially affected by ongoing disruption in its global supply chain due to congestion in international shipping and at ports.”

The group has been affected by the supply chain bottlenecks caused by the blockage of the Suez Canal as well as the HGV driver shortage.

“It doesn’t seem to be getting any better,” Weston said.

“We are working very hard at it and have had to pay significant extra costs but we are managing.”

Weston said the retailer has prioritised bringing its Christmas stock to Europe and the US from Asia, and was starting to put the goods into its stores.

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