Primark enjoys €1.17 billion Spanish turnover

The Irish company's presence in Spain is proving fruitful...

Primark's Spanish expansion took in €1.17 billion between September 2014 and the end of August 2015.

Sales increased 20% on the same period a year previous; without the €248 million worth of purchases made by their Irish headquarters, the increase was 16%.

The reported turnover does not take into account sales at their largest Spanish store. Located on Madrid's Gran Via, the 133,000 sq ft outlet only opened in October 2015.

The figures show the Irish discount retailer's decision to venture into the Spanish market is proving to be a shrewd one.

Primark opened its first store in the Iberian country a decade ago and has thrived despite the crippling recession in Spain that peaked with 27% unemployment.

The company's next Spanish move is to open a sizeable store in the former HQ of BBV bank in Bilbao.
Known as Penneys in Ireland, Primark opened its first store on Dublin's Mary Street back in 1969 and has since expanded across the UK, Europe and the US. Spain is proving to be its greatest continental success to date.