Primark Set To Accelerate US Expansion Plans

• Primark names three new store locations in New York taking total new leases signed in NY State to five

• Outlines US growth ambition of 60 stores over the next 5 years

• Strengthens US leadership team

Primark, the international fashion retailer, is stepping up its US expansion with the announcement of three new store locations in the New York region: City Point in Brooklyn; Roosevelt Field in Garden City, Long Island; and Crossgates Mall in Albany. Primark now has five new leases signed in the New York region, with its Jamaica Avenue store in Queens set to open next year, and another in Green Acres, Nassau County. These are in addition to a new store lease in Tysons Corner, Washington, signed earlier in the year.

The new Brooklyn store in the recently constructed City Point complex will have frontage onto Fulton Street, giving Primark prime access to Brooklyn’s principle retail high street. Meanwhile the Roosevelt Field location will position Primark in the pre-eminent mall serving Long Island and at Crossgates Mall the store will give Primark a foothold in the dominant shopping mall in the State’s Capital, Albany.

The new leases continue the Irish headquartered retailer’s steady US expansion path since opening its first store in Boston six years ago. In the past financial year, almost a third of Primark’s new store openings were in the US, including the most recent launch in September at Fashion District, Philadelphia, its 13th store in the country.

Looking ahead, Primark intends to accelerate the pace of expansion in the US market, building on strong trading and a growing brand awareness. Over the next five years, Primark expects the US store estate to grow to some 60 stores. The success of recent openings outside of its existing North-East footprint – in Sawgrass Mills, Florida and State Street, Chicago – has shown that Primark’s unique formula of fashion and homewares at great value low prices is resonating more widely. The US business performed well in the past financial year, delivering like-for-like sales growth of 6% (excluding its downtown Boston store) on two years ago and a good profit margin.

• Primark names three new store locations in New York taking total new leases signed in NY State to five

• Outlines US growth ambition of 60 stores over the next 5 years

• Strengthens US leadership team

Primark, the international fashion retailer, is stepping up its US expansion with the announcement of three new store locations in the New York region: City Point in Brooklyn; Roosevelt Field in Garden City, Long Island; and Crossgates Mall in Albany. Primark now has five new leases signed in the New York region, with its Jamaica Avenue store in Queens set to open next year, and another in Green Acres, Nassau County. These are in addition to a new store lease in Tysons Corner, Washington, signed earlier in the year.

The new Brooklyn store in the recently constructed City Point complex will have frontage onto Fulton Street, giving Primark prime access to Brooklyn’s principle retail high street. Meanwhile the Roosevelt Field location will position Primark in the pre-eminent mall serving Long Island and at Crossgates Mall the store will give Primark a foothold in the dominant shopping mall in the State’s Capital, Albany.

The new leases continue the Irish headquartered retailer’s steady US expansion path since opening its first store in Boston six years ago. In the past financial year, almost a third of Primark’s new store openings were in the US, including the most recent launch in September at Fashion District, Philadelphia, its 13th store in the country.

Looking ahead, Primark intends to accelerate the pace of expansion in the US market, building on strong trading and a growing brand awareness. Over the next five years, Primark expects the US store estate to grow to some 60 stores. The success of recent openings outside of its existing North-East footprint – in Sawgrass Mills, Florida and State Street, Chicago – has shown that Primark’s unique formula of fashion and homewares at great value low prices is resonating more widely. The US business performed well in the past financial year, delivering like-for-like sales growth of 6% (excluding its downtown Boston store) on two years ago and a good profit margin.