Fashion retailer Primark announced Monday that it is dropping prices by as much as 29% on hundreds of its top-selling clothing items for women, men, and children across all 19 of its markets.
The price cuts cover a wide range of popular products. Among the examples provided: a women’s supersoft boyfriend pyjama set now priced at £13 (about $17.51), down from £17; a women’s single breasted coat reduced to £22 from £26; and a men’s brushed check overshirt now going for £20, down from £25.
The move appears aimed at boosting sales performance as Primark gears up for its upcoming split from parent company Associated British Foods. Earlier this month, Primark reported a 2.2% drop in like-for-like sales during its third quarter ending June 20, with the company pointing to what it described as “a challenging consumer environment.”
In response to the sales decline, Primark said it is ramping up investment in efforts designed to drive sales growth going forward.
Associated British Foods confirmed back in April that it plans to spin Primark off from its food-related businesses no later than the end of 2027.
