// Primark finance boss John Bason said that prices will not rise for shoppers despite inflationary pressures
// Rivals such as Next and Superdry have warned that prices will increase in 2022
Fashion giant Primark has insisted it will not raise prices for spring/summer despite rising inflation.
John Bason, finance chief of Primark’s parent company Associated British Foods, told Reuters: “Primark prices for the consumer will remain here they are. It’s locked and loaded.”
The pledge comes as other UK fashion retailers such as Next and Superdry have warned that clothing prices will rise in the face of rocketing shipping and labour costs.
Next said that its prices will increase 3.7% in the first half of 2022 and will rise 6% in the second half due to increased freight rates and manufacturing costs.
Yesterday, Primark revealed it is to cut 400 store management jobs in a bid to cut costs. The retailer said it was phasing out some store roles, including supervisors, and creating a new entry-level management role as part of the reorganisation.
The news came as Primark reported that UK sales were 10% below pre-pandemic levels over Christmas.