Primark: the numbers are back to pre-Covid levels!

 Several customers were waiting for brick and mortars to re-open to get their Primark fix. Indeed, during the lockdown, they could not buy clothes from their favourite retailer since it does not have an online store.

After the re-opening of the high street, things seem to be going pretty well for the firm. It announced that the number of shoppers visiting its outlets in England and Wales are the same as pre-pandemic levels. Moreover, they delivered ‘record sales’ in the first week after they started welcoming back customers. More than half of its shops broke their own sales records.

Since Primark has no online operations, it was particularly impacted by the coronavirus pandemic and its losses are estimated to be at £1.1bn. However, it seems that now, things are getting better. In fact, the budget retailer is so confident that it has decided to repay £121m in furlough money claimed under government job retention schemes.

There has been a considerable increase in demand for its fashion ranges, particularly, as Primark advanced, in womenswear. It said, “We expect the period after the reopening of stores to be very cash-generative as we sell the higher-than-normal inventory on hand. In line with our normal practice, we have placed substantial orders for merchandise for the coming autumn.

People are flocking to Primark © Royalty-free image