High street store Primark has warned its customers about some future changes being made in its shops.
The retailer,which recently teamed up with Greggs to create a unique experience, has announced that it will increase prices on its upcoming autumn and winter collection.
As increasing costs hit businesses and households across the globe, the budget fashion retailer revealed that it would make “selective” price increases.
According to Associated British Foods, which owns Primark as well as other brands, explained that the US dollar had strengthened and that inflation was rising, therefore leading them to make the changes.
Speaking of the move, chief executive George Weston added: “Inflationary pressures are such that we are unable to offset them all with cost savings, and so Primark will implement selective price increases across some of the autumn/winter stock.
“However, we are committed to ensuring our price leadership and everyday affordability, especially in this environment of greater economic uncertainty.”
In an interview withReuters, finance chief John Bason emphasised that Primark would not be increasing the prices of its spring and summer stock.
“We will absolutely ensure that we are the best value around, that's not going to change,” he told the publication.
Despite the pending changes, Primark is expecting to see its sales increase as it is opening more stores and is increasing its selling space by 10% compared to the end of 2019.
“As a consequence, total sales for Primark in the second half are anticipated to be ahead of the second half of the 2019 financial year, which was pre-Covid,” Associated British Foods explained.
The news of the upcoming price hike comes afterthe retailer hinted that there could be a new click and collect option in its stores.
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As part of their website relaunch, shoppers can now see what clothes are available in which stores meaning that people can know what to expect before embarking on their shopping trip.
The retailer,which has sent fans wild over its “most comfy shoe ever”, is yet to confirm when the ‘click and collect’ feature will be live, but rumour has it it could be something that comes in pretty soon.
“We’re making the digital move forward in a very big way in both the UK and the rest of Europe,” John Bason told Reuters.
“That will generate sales and profits for us. Does this give us a capability to move further forward? Well let’s have a look at that.
“If there was an e-commerce opportunity for us, it will probably be more in the area of click-and-collect.”
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