Following today’s release of Primark’s figures for the 13 weeks ending 3 January 2026. Louise Deglise-Favre, lead apparel analyst at GlobalData, a leading data and analytics company, offers her view: “Primark delivered modest sales growth in the 16 weeks to 3 January 2026, with constant currency sales rising a timid 1%, as performance fell slightly short of Primark’s expectations in a challenging apparel market. Overall sales growth was driven by continued international store expansion leading to an uneven regional performance; group like-for-like (l-f-l) sales declined 2.7%, reflecting pressures on consumer demand. During the period, Primark increased markdowns to manage inventory levels, weighing on profitability, and the group now expects sales growth in the first half of FY2025/2026 to be in the low single digits. If this sales trend continues, Primark anticipates adjusted operating profit margins to remain around 10% for the full year, broadly flat year-on-year and below historic levels of performance.
“In the UK, Primark delivered relatively resilient results compared with a wider muted clothing market over the Christmas period, with constant currency sales rising 3% and l-f-l sales up 1.7%. Consumers resonated with Primark’s initiatives to strengthen its value proposition through improved product, stronger communication regarding prices and growing digital engagement through its click-and-collect and app services. Primark’s reporting of l-f-l sales of 1.1% in the wider UK and Ireland region shows Ireland dragged down the UK-alone l-f-l figure, underlining ongoing pressure on discretionary spend in Ireland and the limitations of a predominantly store-led model in an increasingly online-led market.
“Outside the UK and Ireland, performance was mixed. In continental Europe, like-for-like sales declined 5.7% as consumer confidence remained weak and initiatives to improve value and engagement are still at an early stage. In the US, constant currency sales rose 12%, though it was likely mainly driven by store expansion as trading conditions remained volatile in the wake of high tariffs and overall political tensions, impacting footfall and consumer sentiment. Primark has continued to expand its store estate internationally, including the opening of its first franchised store in Kuwait. While international expansion remains an important growth lever, reliance on new space rather than l-f-l momentum highlights the need for improved underlying consumer demand if Primark wants to remain competitive against strong players such as Shein and Zara in the long-term. Primark should invest in impactful marketing to better broadcast its strong value-for-money and fashion credentials.”
