www.asktraders.com<\/a>\u00a0Steve Miley\u00a0said the company was well placed to manage the UK's departure from the EU and any \"unforeseen\" issues that may raise.<\/p>\n\"Primark continues to deliver on sales growth driven by increased selling space with an expected 4% growth in constant currency. Like for like sales are expected to record -2% decrease due to unfavourable weather<\/strong>. The impact of new stores opened on the sales growth is prevalent in the UK where like for like sales have recorded a -1% contraction whilst the top line figure shows a 3% expansion.<\/p>\n\"The European and US divisions continue to grow fuelled by organic growth as well as increase in selling space with 14 stores being opened over the year. The expansion will continue into the next year with plans to add 1 million square feet of additional selling space in 19 new stores in France, Spain, Netherlands, Poland and UK. The strategy of delivering 'Amazing fashion' at 'Amazing prices' has paid out for the company<\/strong> as a whole in an environment of increasing competition on the online space.<\/p>\n\"With two thirds of the revenue generated outside the UK the company has announced the completion of the Brexit preparations and has put the contingency plans in place in case of disruptions<\/strong> caused by Great Britain exiting the EU. The cash levels held at the end of the period will allow the company to navigate unforeseen events caused by the departure from the European block,\" Miley said.<\/p>\nShares in ABF slipped 3.2% to 2,279p in early trading.<\/p>\n","protected":false},"excerpt":{"rendered":"
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Primark will keep prices low despite Brexit cost pressure - TheIndustry.fashion<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n