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

President Tsai Ing-wen delivering remarks before boarding her plane bound for Central America. Courtesy: Presdient's office

Textiles | On 16th Jan 2017

‘Textiles at centre of Taiwan’s new trade arrangements’

Textiles should be at the heart of Taiwan’s thinking while developing ...

Apparel/Garments | On 16th Jan 2017

Ralph Lauren develops policy on tracking wood based fabrics

In a bid to trace source of wood based fabrics like viscose and rayon ...

Apparel/Garments | On 16th Jan 2017

EC proposes enhanced market access for Sri Lanka

The European Commission (EC) has proposed that a significant part of...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mark Paterson
Technical Absorbents Ltd

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

January 2017

January 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search