Primark promises not to raise prices

Primark’s parent company AB Foods has pledged not to increase prices despite seeing costs jump due to Brexit.

AB Foods finance director John Bason told PA that the company take a hit to profits rather than pass price increases onto its shoppers.

Bason said Primark has a “history” of keeping prices low and will continue to shield its customers while it can despite increasing costs from the depreciation of the sterling since the Brexit referendum three years ago.

However, two thirds of its profit is earned outside the UK, AB Foods actually expects to gain £10 million through the weaker pound.

Retail Gazette