THE FIRM WHICH operates the Penney’s chain of outlets here in Ireland last year recorded daily average pre-tax profits of more than €1 million.
The €693.06 million in revenues for the 52 weeks worked out at average weekly revenues of €13 million for the Irish network of Penneys stores. Primark opened its first store in Dublin in 1969 under the name Penneys and today operates in over 400 stores globally with the firm aiming to have 530 stores open by the end of 2026.
The overall revenues for Primark Ltd last year increased by 34% from €2.36 billion to €3.174 billion. The Primark Way franchise is a business format which is developed and run from Ireland and provides Primark intellectual property, know-how and services to Primark businesses overseas.