Primark to open four new high street branches
Primark (ABF.L) is planning to open four more stores across the UK in the next two years, in a move that will create 850 new jobs.
The new stores will be in Bury St Edmunds, Craigavon, Salisbury and Teesside Park and are part of a £140m ($169.55m) investment plan from the fast fashion retailer, according to both the Mirror and The Sun.
The plans are set to create at least 850 new jobs nationally and increase the brand’s UK selling space by 160,000ft.
Primark chief executive Paul Marchant said: "The UK is our biggest market and as we continue to grow and expand our business internationally, we remain as committed as ever to investing on our stores to offer more customers our great value clothing, beauty homewares and more."
Read more: Primark launches online shopping with new click and collect service
Primark is also relocating its shops to better spots in Bradford and High Wycombe.
The retailer has 190 shops in the UK and employs 30,000 people and has plans to expand to 530 shops internationally in the next four years.
The budget chain, which lost more than £1bn in sales during the pandemic when its stores had to close, succumbed to the online shopping revolution and launched a trial of a new click and collect service at 25 stores across the country earlier this month.
But the company has held back on home deliveries, instead focussing on bringing people into its stores.
Read more: FTSE 100: Primark shelves price rises as customers face difficult choices
Around 2,000 products are available to click and collect — including around 800 exclusive to the service.
Primark's parent group Associated British Foods (ABF) said it would freeze prices for Primark's clothes beyond what was already planned for this winter, despite rising costs.