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Primark well stocked for Christmas and won’t raise prices -finance chief -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Signage outside Primark’s Oxford Street store in London on July 2, 2020. REUTERS/Hannah McKay

LONDON (Reuters] – Associated British Foods(OTC) Primark’s fashion business is in good supply for Christmas trading and won’t be increasing prices despite disruptions to its supply chain and inflationary pressures. This was according to the finance chief of the company.

John Bason stated that, “We basically say we have enough stock to cover Christmas” after the company reported its full year results.

According to him, there will be limited stock coverage on some Primark lines that customers may “not even be able to see”.

Bason promised that Primark would maintain its autumn/winter inventory prices at the same level as in 2020-21.

He stated, “We are not raising Primark’s prices.”

Primark’s gains in transaction currency, improved labour efficiency, and lower operating expenses allowed it to maintain this stance.

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