The owner of Primark has said that it will have to raise its prices because of the severe inflationary pressures it was facing.
AB Foods, repoerting its half year results said that inflationary pressures were such that it is unable to offset them all with cost savings, and so Primark will implement selective price increases across some of its autumn/winter stock.
“However, we are committed to ensuring our price leadership and everyday affordability, especially in this environment of greater economic uncertainty,” said its CEO George Weston.
The group recorded a near doubling in first-half profit with sales in its Primark stores back to pre pandemic levels
“The better outcome reflected all Primark stores remaining open and trading throughout the period except for short spells in Austria and The Netherlands. That compared to prolonged periods of store closure in the United Kingdom and Europe in the first half of the previous year.” said the Group
