Primark Sticks to Cautious U.S. Expansion Plans as Sales Gain
- CFO says it’s still too early to expand more aggressively
- Profit increase at Primark to be wiped out by sugar decline
Photographer: Luke MacGregor/Bloomberg
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Associated British Foods Plc is sticking to cautious U.S. expansion plans for its Primark apparel chain, seeking to adapt stores that draw hordes of European shoppers to American consumers’ preferences.
Primark said it’s encouraged by sales at two stores it has shrunk and revamped in New Jersey and Connecticut. The chain will open a store in Brooklyn this year, bringing the total number of U.S. outlets to nine. Primark opened its first U.S. store in Boston almost three years ago.