Primark expects to complete the relocation of capacity from Magna Park to its new 1m sq ft warehouse at Islip in Northamptonshire early in its new financial year.
Sales at Primark are expected to be nine per cent up on last year. ABP said the weakening of sterling against the dollar would have no effect this year because it had taken out forward currency contracts when orders for this year were placed. However, current exchange rates would hit margins next year.
The retailer plans to open 1.3 million sq ft of new retail space next year including a 32,000 sq ft extension to its store at the eastern end of Oxford Street which will be opened ahead of the Christmas season.