Primark on the up
Discount clothing retailer Primark are reporting that both sales and profits have been on the increase.
Primark, part of the Associated British Foods group, suggest that sales in 2007 were up 4% on a like-for-like basis when compared to the previous year.
The company are aiming to open a further 8 stores this year, 4 of which are likely to be in Spain.
The comparative success of Primark comes against a backdrop of some poor results for other clothing retailers.
Why are Primark doing better? Could it be that their low priced items are attracting shoppers who have an eye for bargains and are looking to save money at a time when the country's economic future appears to be in some doubt.
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