Advertisement

Penneys sales 'affected by unseasonable weather' in May

The parent company of Irish retailer Penneys says sales fell in May because of bad weather. ABF s...
Jack Quann
Jack Quann

09.54 4 Jul 2019


Share this article


Penneys sales 'affected by uns...

Penneys sales 'affected by unseasonable weather' in May

Jack Quann
Jack Quann

09.54 4 Jul 2019


Share this article


The parent company of Irish retailer Penneys says sales fell in May because of bad weather.

ABF says sales at Primark - its trading name outside Ireland - in the year-to-date were 4% ahead of last year.

It says sales in the Eurozone were affected by the "unseasonable weather" in May.

Advertisement

However trading recovered strongly in June.

Sales grew in Spain, Portugal, France and Italy - while trading continued to be weak in Germany.

In the UK, it says like-for-like sales were also "held back" by unseasonable weather in May, but had seen an improvement in June.

However it says that trading at its new stores was "strong".

It says its US business "continued to deliver encouraging like-for-like and strong total sales growth".

"We expect to open over the next 12 months the previously announced new stores at American Dream, New Jersey and Sawgrass Mills, Florida and we have now exchanged contracts on a store in State Street, Chicago", ABF says.

It opened new outlets in Brussels, Bordeaux, Wuppertal in Germany, Utrecht in the Netherlands and Belfast.

It also closed a store in Oviedo, Spain and a shop in the King of Prussia mall in Pennsylvania was downsized.

The group says its full year outlook is unchanged, with adjusted earnings per share expected to be in line with last year.

Penneys marked its 50th anniversary earlier this week.

The company opened its first store on Mary Street in Dublin back in 1969, and opened its first UK shop in 1973.

Today the firm has 372 stores in 12 countries and more than 75,000 employees.


Share this article


Read more about

ABF Associated British Foods Plc Penneys Penneys Sales Primark Sales

Most Popular