Business Person of the Month: Paul Marchant, Primark

Primark chief executive Paul Marchant has been chosen as The Irish Times Business Person of the Month for January, an award run in association with Bank of Ireland.

In a trading update on January 24th, the retailer’s listed parent company, Associated British Foods, said Primark had traded “ahead of expectation” last year, including “a very strong Christmas period”.

“This year, footfall was strong in both the UK and the euro zone, unit volumes increased, and sales were 18 per cent ahead of last year at actual exchange rates and 15 per cent ahead at constant currency,” the company said.

Primark’s like-for-like sales were 11 per cent ahead, “supported by higher unit volumes, higher average selling prices and a normalised level of markdown”. The company said its sales in the week leading up to Christmas Day “reached a new record”.

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Primark’s digital capability also developed in the year. Its new UK website’s traffic increased some 85 per cent since last year. The site was recently launched in the Republic, with other markets to follow by the middle of this 2023. It also said it was “encouraged” by its click-and-collect trial of children’s products in 25 stores in the UK.

Founded 50 years ago and headquartered in Dublin, Primark operates in the Irish market under the Penneys brand. Mr Marchant has been chief executive since 2009.