Primark's Business Strategy During the Period of
COMPANY HISTORY
Primark is one of the biggest retailers in the UK. In 1969, as a first Penneys store, it is opened in Dublin. Then in 1971 first largest shop opened outside the Dublin. These were the beginning of the Primark. 1973 was the first entry of Primark in to London. It has a good reputation and good customer service since it was started.
INTRODUCTION
Even though Primark has a long history and strategies, we briefly explain here about the strategies of Primark in the period of 2007, 2008 and 2009. Primark has own brand items also. Here we discuss about clothing retail of the Primark during the certain period even though it has many kinds of businesses.
STRATEGIES IN BUSINESS
Growth of Primark:
Position and Profit:
In 2008, Primark cemented its place as 2nd largest clothing retailers in UK this year. It reached 22% in profit in March of this year. Primark nearly had 500 audits this year, while it had the audits about 300 in the year 2007.
Sales and Growth Increased (20%, 7%):
In 2009, Primark celebrated its 40th Birthday. Primark again delivered exceptional sales and profit growth. Sales increased by 20% as a result of growth in selling space and like-for-like sales growth of 7%. Primark had over 1000 audits in this year. This is nearly double the amount of achieved last year.
Analysts say 9% growth:
In 2009, Primark has done well during the economic downturn as cash-strapped shoppers looked for bargains. But there are concerns that tax rises and public spending cuts could hit it at the same time as it faces rising costs. These fears were heightened yesterday after Primark said full-year same-store sales growth is forecast to be 6%. This compares to 8% in the first half, implying growth has slowed to 4% in the second half of its financial year. Some analysts pointed out that this slowing is against massive 9% growth in the second half of 2009.
Primark Stability:
One of the problems is the stability within the firm. In the
Primark is one of the biggest retailers in the UK. In 1969, as a first Penneys store, it is opened in Dublin. Then in 1971 first largest shop opened outside the Dublin. These were the beginning of the Primark. 1973 was the first entry of Primark in to London. It has a good reputation and good customer service since it was started.
INTRODUCTION
Even though Primark has a long history and strategies, we briefly explain here about the strategies of Primark in the period of 2007, 2008 and 2009. Primark has own brand items also. Here we discuss about clothing retail of the Primark during the certain period even though it has many kinds of businesses.
STRATEGIES IN BUSINESS
Growth of Primark:
Position and Profit:
In 2008, Primark cemented its place as 2nd largest clothing retailers in UK this year. It reached 22% in profit in March of this year. Primark nearly had 500 audits this year, while it had the audits about 300 in the year 2007.
Sales and Growth Increased (20%, 7%):
In 2009, Primark celebrated its 40th Birthday. Primark again delivered exceptional sales and profit growth. Sales increased by 20% as a result of growth in selling space and like-for-like sales growth of 7%. Primark had over 1000 audits in this year. This is nearly double the amount of achieved last year.
Analysts say 9% growth:
In 2009, Primark has done well during the economic downturn as cash-strapped shoppers looked for bargains. But there are concerns that tax rises and public spending cuts could hit it at the same time as it faces rising costs. These fears were heightened yesterday after Primark said full-year same-store sales growth is forecast to be 6%. This compares to 8% in the first half, implying growth has slowed to 4% in the second half of its financial year. Some analysts pointed out that this slowing is against massive 9% growth in the second half of 2009.
Primark Stability:
One of the problems is the stability within the firm. In the
References: http://www.primark.co.uk/home http://www.telegraph.co.uk/finance/2947139/Primark-ponders-problem-of-Ryan-heir.html http://www.just-style.com/news/primark-growth-continues-with-22-h1-profit-hike_id100545.aspx