Strong post-lockdown sales at Primark sees inventory levels drop ‘significantly’

The early re-opening of high street and out-of-town stores has seen Primark reduce the size of its inventory which built up during lockdown by a “significant proportion”.

It said that as a result the book value of the spring/summer inventory that would be carried into its next financial year was now expected to be “some £150 million” and total year-end inventory levels would be much lower.

All of Primark’s UK stores have now re-opened but ABF said that sales were expected to be 12% lower on a like-for-like basis.

Back in April Primark said it was committed to paying its suppliers £370 million in additional orders for product over and above the £1.5 billion of stock in stores, depots and in transit.