Primark Sales Plunge To Zero After Making £650m A Month Before Coronavirus Lockdown
21 April 2020, 08:46
Primark hasn’t sold a single item since 22 March, due to the ongoing coronavirus crisis.
The effects of the coronavirus pandemic have hit businesses – both big and small – hard with Primark announcing its income has been severely effected.
Before the fashion giant closed the last of its stores around Europe on 22 March it was making £650million in sales per month, and is now bringing in nothing.
Unlike most high street chains, Primark – who have 376 stores in total all closed – doesn’t have an online site for shoppers to buy their clothes online.
The store sells only gift cards through its website.
Primark’s chief executive George Weston told investors the store’s owner “has been squarely in the path of this pandemic.”
"From making sales of £650m each month, since the last of our stores closed on 22 March, we have sold nothing."
He added without furlough support from European states, many of the brand’s 68,000 staff would have been made redundant.
Associated British Foods, Primark’s owner, has paid its suppliers for the stock already received and is ensuring those who make the clothes are paid.
As well as Primark, Associated British Foods owns brands including Twinings tea, Blue Dragon, and Ryvita.
George Weston also paid tribute to two workers who have died from COVID-19 in the last few weeks and confirmed a third is in intensive care in the US.
Mario Marioli worked at a yeast plant the firm owns in Italy, for 40 years and Claudio Maini worked for 20 years at Italian balsamic vinegar maker Acetum.
"I am in awe of the Primark teams for their care, good judgement and immense hard work as they have managed this crisis," Mr Weston said.
He also assured that “Primark is managing through an extraordinarily challenging period after all of its stores closed in March and our management response to mitigate the cash outflows was swift and proportionate.
“Although uncertainty remains, we have the people and the cash resources to meet the challenges ahead."