LONDON, July 20 (Reuters) – Fashion retailer Primark said on Monday it would reduce prices by up to 29% across hundreds of bestselling womenswear, menswear and kidswear products, seeking to improve trading ahead of next year’s demerger from parent Associated British Foods.
• The lower prices will launch across Primark’s 19 markets from Monday.
• Examples of price cuts include a women’s supersoft boyfriend pyjama set at £13 ($17.51) reduced from £17, a women’s single breasted coat at £22 reduced from £26 and a men’s brushed check overshirt at £20 reduced from £25.
• Earlier this month, Primark reported a 2.2% fall in like-for-like sales in its third quarter to June 20, highlighting “a challenging consumer environment”.
• It said it was increasing investment in initiatives to drive like-for-like sales growth.
• AB Foods confirmed in April it would spin off Primark from its food businesses before the end of 2027.
• ($1 = 0.7423 pounds)
(Reporting by James Davey; Editing by Kirsten Donovan)
