Sales grow at Primark

Primark has shrugged off the wet weather and economic downturn in Europe to post sales growth ahead of its rivals in its third quarter.

The discount fashion chain — which is owned by Associated British Foods, the sugar production-to-grocery brands conglomerate — also said it will open a huge new store near Tottenham Court Road Tube station earlier than expected towards the end of September.

Primark delivered total revenues up by 13% over the 16 weeks to June 23, boosted by four new stores in Spain.

Analysts forecast it had grown like-for-like sales by 2% in Europe, which compares favourably with Marks & Spencer posting a 6.8% fall in UK underlying clothing and homewares sales in its first quarter.

John Bason, ABF’s finance director, said Primark enjoyed its “best-ever” first day of trading at its new store in Berlin on Wednesday, even surpassing the opening of its Oxford Street outlet in April 2007 which sparked a scrum that drew horse-mounted police.

ABF grew group sales by 13%, driven by a surge in revenues at its sugar division.