Primark looks to crack US market with Boston store
Primark is set to enter the US retail market with the opening of a store in Boston, Massachusetts, as it looks to become a global fashion chain.
The retailer, owned by Associated British Foods, plans to open the 70,000 square ft shop towards the end of 2015, with negotiations under way to open further stores in the north east, in the middle of 2016.
“After extensive research it has been decided to take the concept to consumers in the USA,” Primark said in a statement.
The announcement comes as Associated British Foods reported a 4 percent rise in pre-tax profit to £468m in the first quarter, citing a strong performance from Primark which delivered an operating profit of 26 per cent ahead of the same period last year.
Primark operates over 270 stores across Europe.