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Primark hailed its "outstanding year" today after revealing annual profits had jumped by 44% to £514 million - contrasting the fortunes of high street rival Marks and Spencer.
The retailer grew sales by 22% to £4.3 billion in the year to September 30 and the Associated British Foods, which owns Primark as well as leading food brands Twinings and Kingsmill, said it expected another improvement in performance in the current financial year.
The company paid tribute to Primark's buying teams after autumn/winter and spring/summer ranges sold out with little discount, while M&S struggled to kickstart its clothing sales.
Primark has expanded in the UK's major cities with the opening of a second store on London's Oxford Street and extensions to shops in Newcastle and Manchester.
They are also set to open their first store in France, which will be located in Marseille.
Marks & Spencer's pre-tax profits dropped by 8.9% to £261.6 million during the six months up to September, with the retailer's star-studded launch of its autumn/winter clothing range hitting its figures.
The retailer also reported a ninth consecutive quarter of clothing and homeware sales being down and claimed that consumers remain reluctant to spend.
Like-for-like sales in its food business rose 3.2% in its second quarter, however, general merchandise sales dropped 1.3% between July and September.
Chief executive Marc Bolland said its revamp of womenswear was its key priority during the period, and is showing "early signs of improvement".
Marks & Spencer said that while consumer confidence appears to be improving that does not mean it translates into higher spending and added that it was cautious for the rest of the year.