The clothing at budget chain Primark is becoming more expensive. According to British parent company AB Foods, the company cannot avoid raising prices for certain items due to high inflation.
The group reported a trading update for the first quarter.
According to AB Foods, the stores Primark have been busy since the stores were allowed to open again, but sales are not yet at the level of before the corona crisis.
Unlike competitors, Primark does not have an online store. The lockdowns and other restrictive measures due to the pandemic have therefore cut harder at the store than other chains. The company previously announced it would cut about 400 jobs to cut costs.
The company says cost savings alone won’t be enough to offset higher costs for things like energy, packaging materials, and wages. Therefore, clothes in the store will become more expensive. The company itself mentions “selective price increases” in the autumn and winter range.
