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Primark's dominance under threat by Covid-19 - What the analysts say

2020-04-21 15:47:00| Daily apparel & textile news and comment - from just-style.com

Value fashion retailer Primark has reported revenue of GBP3.7bn (US$4.5bn) for the first half, representing a 3.9% uptick in constant currency and a 2.2% rise at actual exchange rates. But while its performance in the 24 weeks to 29 February demonstrates "impressive" sales growth, one analyst notes the outbreak of Covid-19 will drastically impact its performance for the rest of the financial year and is likely to give Primark reason to rethink its bricks-and-mortar only strategy for the future.

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