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Primark and JD Sports buck UK retail gloom

From BBC - April 17, 2018

Associated British Foods, owner of Primark, has hailed the clothing chain's UK performance as "remarkable" after a boost in like-for-like sales.

However, the UK results were not enough to offset a decline in Primark's same-store sales overall.

Retailer JD Sports also reported a rise in sales, which it said was "an excellent result".

The UK results of both firms come despite the crisis faced by some High Street chains.

In the 24 weeks to 3 March, Primark saw 3% growth in its UK like-for-like sales, which strip out the effect of new store openings.

This increase came "against a backdrop of unseasonable weather in Europe" and a decline in margins due to adverse currency movements.

"Our UK performance was remarkable in the circumstances and delivered a strong increase in our share of the total clothing market," it said.

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