Primark has announced a £140 million investment that will result in the establishment of four new stores and the employment of 850 jobs.
The parent business Associated British Food aims to make the investment in its United Kingdom operations over the following two years.
As a result of this investment, the company announced the opening of “at least” four newsagents.
These locations were disclosed on Friday:
• Bury St. Edmunds, located in Suffolk
• Craigavon is located in Northern Ireland
• Salisbury, located in Wiltshire
Teesside Park, located in North Yorkshire
The new stores will add more than 160 000 square feet of retail space.
Additionally, investments will be made in current stores, and a Primark Home location will open in Liverpool.
In addition to opening new stores, Primark will expand and invest in its existing stores and relocate its Bradford and High Wycombe locations. Primark will relocate from its current position in the Kirkgate Shopping Core to Broadway in the city center of Bradford.
With the funds, existing stores on the high street, in shopping centers, and retail parks will be renovated and upgraded.
In recent years, the business has expanded its in-store offerings by including beauty treatments, home collections, and cafes. Collaborations with Greggs can be seen in Birmingham and London Primark locations.
A click-and-collect trial was launched in 25 locations in the north of England and Wales this week, allowing Primark consumers to purchase products online and pick them up in-store.
While announcing a recovery to pre-COVID-19 sales and market share in the UK, the store stated earlier this month that it will not hike prices further despite hefty expenditures.
Commenting on Primark’s full-year results, the chief executive officer of Associated British Foods stated, “We have decided to hold prices for the new fiscal year at the levels already implemented and planned, and to stand by our customers, rather than set prices in response to these highly volatile input costs and exchange rates.”
Next year will mark the 50th anniversary of the opening of Primark’s first store in England, in Derby in 1973. Today, it has 190 outlets and over 30,000 employees across the United Kingdom.
