Primark to invest in digital tech following recovery

Primark has reported adjusted operating profit growth of 15 per cent to £415 million for the 53 weeks to 18 September.

The chief executive of Primark-owner Associated British Foods (ABF) said that the retailer expects to deliver an improved margin and profit next year and plans invest in both technology and digital capabilities to further boost the performance of the business.

“Primark delivered a good performance in the face of continued disruption to trading caused by the pandemic,” said George Weston, chief executive of ABF. “It also unveiled its wide-reaching sustainability strategy with the aim of making more sustainable fashion affordable for all.”

The company also said it would be expanding its existing store network.

Primark has famously refused to launch an online store, even during the height of the pandemic when the company was hit hard by store closures.

But some analysts have suggested this move towards a digital strategy could be a hint at the company’s possible move toward e-commerce.

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