Primark profits plummet due to store closures

Primark has gone from making £650m in sales a month to nothing as the COVID-19 pandemic sweeps across the country.

Many social media users are blaming the lack of a clothing delivery service for the nosedive, unlike its competition which has seen buoyant sales during lockdown.

Around 68,000 staff have been furloughed across Europe and the chain has taken a £284m hit for unsold stock.



“From making sales of £650m each month, since the last of our stores closed on 22 March, we have sold nothing,” boss George Weston said.

The chain does not have an online store, neither does it offer click-and-collect services for its products. The company said home delivery would force a rise in prices.

“Much as I would love to be allowed to reopen Primark stores across the UK, continental Europe and the USA soon, because lockdown has so harmed our business and our supply chains I know that we must not do so until we have suppressed this disease,” Weston said.

“When we are allowed to reopen we must make our Primark stores safe for our staff and our customers, even if that means ensuring there are fewer people shopping at any one time and so accepting lower sales at least until the remaining risk is minimal.

“In time we can rebuild the profits. We can’t replace the people we lose,” added Mr Weston.

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