Primark has announced lower prices across hundreds of bestselling items as part of a new campaign, effective from today. The price cuts include customer favourites such as cotton-rich jeans for £9, pure-cotton pyjamas from £7, and viral boyfriend PJs across women’s and kids now down to £13 and £8. Discounts also extend to kids' ranges, with tops and bottoms from £2 each.
New Prices and Quality Improvements
The new prices come into effect on new ranges in stores from today and continue into the autumn/winter collection. Primark says it has also made improvements to the quality, fit, and style across the ranges, and has made the lower prices easier to find in shops with clearer signage.
Matt Houston, Chief Customer Officer at Primark, said: “Value matters to customers today more than ever and for more than fifty years customers have trusted us as the destination on the high street for great value fashion at prices you can’t find anywhere else. We want to continue to lead the way in shaping what affordable fashion looks like and give our customers the confidence that they can always trust Primark for the very best prices but without compromising on style or on quality.”
Recent Sales Performance
The announcement follows Primark's report earlier this month that UK sales were up 1%, with flat like-for-like growth. The retailer saw a “strong start” to spring/summer trading in March but said this was followed by a weaker performance in April and May. Primark attributed this to the impact of the Middle East conflict on consumer sentiment and unseasonable weather. However, improved weather conditions in June helped drive stronger trading.
Planned Spin-Off
Its owner, Associated British Foods (ABF), also last month revealed plans to spin off the Primark retail business by the end of 2027. Both companies are set to be listed on the FTSE 100 following the split. Wittington Investments, the vehicle of ABF’s founding Weston family, will keep majority stakes in both businesses. Bosses said the break-up will result in around £75 million of one-off separation and transaction costs, and they expect to lose out on “below £45 million” of synergies following the deal.
Mr Weston, chief executive of ABF, said: “This is an important step in the evolution of ABF. For our food business, the separation will enable greater understanding of the breadth and strength of our differentiated portfolio and its long-term growth opportunities as the only FTSE 100 pure play food producer. For Primark, it enables the creation of appropriate governance to maximise the future potential offered by Primark’s powerful brand, strong customer proposition and opportunities in existing and new markets.”
