Primark owner announces plans to open further stores in US, including its first in New York
The owner of Primark has announced plans to open further stores in the US, including its first in New York.
Associated British Foods has struck a deal with upmarket department store group Sears to lease seven standalone shops to shift its low cost Primark fashion.
ABF (up 66p to 2635p) already announced in April that it is seeking to break into the lucrative US market, which has been a graveyard for many British retailers.
If the cap fits: Associated British Foods has struck a deal with upmarket department store group Sears to lease seven standalone shops to shift its low cost Primark fashion
The first store will open in a former department store in Boston next year, in what is Primark’s biggest move since breaking into France last year.
A spokesman said: ‘The stores will form part of the new Primark estate in the north east of the US.
Associated British Foods has already said that Primark plans to be trading from up to 10 stores by late 2016.’
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