Sales surge at Primark

<p>Primark has reported a rise in sales.</p>

Sales are rising at budget clothing store Primark, the firm has revealed in a statement.

It was announced by the company's owner Associated British Foods that it expects Primark's full-year sales to be 22 per cent ahead of last year.

Primark's sales are up five per cent when new store openings are stripped out of the data and a stronger euro was cited as one of the reasons for the performance of the brand.

"In the second half, although growth was subdued during the very cold months of March and April, trading during the summer months was strong and built upon the success of the same period last year," the statement said.

Despite the increase in sales at Primark, the share price of Associated British Foods is slightly down today (September 9th) on the back of the news.

At 16:24 BST, its stocks were selling for 1.78 per cent less than at the start of the day, a fall of 33 points on the beginning of the session on the London Stock Exchange.

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