Home / Knowledge / News / Apparel/Garments / 'Profit margins will be hit' – CEO, Primark
'Profit margins will be hit' – CEO, Primark
May '11
Owners of Primark, the UK based garment retailer, have warned of a fall in profit margins, mainly due to the hike in cotton prices.

Associated British Foods (AFB) said that in the six months ending on March 5, operating margins of Primark fell and attributed the same to rising costs of cotton and in absorbing the recent hike in VAT rates.

However, Primark will absorb the increase in input costs to the extent possible to provide the best value to customers, said, George Weston, Chief Executive – AFB.

Though margins are under pressure, Primark has reported a three percent rise in like-for-like sales in the six months to March and which have also improved since then, added Weston.

Primark manages 214 stores and in the six months ending in March, Primark unveiled 10 new outlets and six more will be opened in the second half. It also plans to open five new stores in Germany in the next ABF fiscal year.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Commonwealth Bank of Australia

Textiles | On 25th Oct 2016

World’s first cotton shipment using Skuchain’s Brackets

The world’s first trade transaction involving shipment of cotton...

Textiles | On 25th Oct 2016

Cotton yield to increase to 568.29 kg/ha in 2016-17: CAB

At its first meeting for the cotton season 2016-17, the Cotton...

Apparel/Garments | On 25th Oct 2016

US most sought after market for UK retailers: Global-e

A majority of the retailers in the UK consider US to be their most...

Interviews View All

Veronique Lee

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search