Primark to raise prices as cost pressures mount

Published by
Reuters UK

By James Davey LONDON (Reuters) -Budget fashion chain Primark will raise prices as it battles severe inflationary pressures, its parent Associated British Foods said on Tuesday, as it also warned on the margin outlook at its food businesses, sending shares lower. The group said Primark has been unable to fully offset the cost pressures it is facing with savings and so will implement selective price increases across some of its autumn/winter stock from August. Finance chief John Bason told Reuters that Primark was keeping its pledge not to raise prices for spring/summer stock. He declined to sa…