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Primark announces excellent Christmas performance

In these times of reduced consumer spending it will come as no surprise to find that Primark, the low-cost fashion chain, has reported like-for-like sales up 8% over the Christmas period. Even though there were high hopes for the group, these figures appear to have exceeded management expectations and bode well for the immediate future.

This comes at a time when the general UK high street is struggling with a number of high-profile administrations and financial difficulties across the board. There is no doubt we are seeing a degree of "downsizing" with regards to previous premium priced purchases and Primark appears to be one company which is benefiting more than others. Whether we will see a reduction in the recent sales growth as and when the UK economy does recover remains to be seen but at this point in time every penny counts and many consumers in the UK are willing to accept lower quality products for lower prices.

It will be interesting to see exactly what figures Primark announces as this trading statement has been issued just prior to the end of the company's financial half-year. Many analysts will certainly be awaiting the forthcoming figures with baited breath to see more details about recent trading.

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