UK budget fashion chain Primark to invest 140 million stg in stores

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Reuters UK

LONDON (Reuters) – British fashion chain Primark set out plans to invest 140 million pounds ($169 million) in its UK store estate over the next two years, betting on its rock-bottom prices luring customers as the country grapples with a cost-of-living crisis. The budget group, part of Associated British Foods, said on Friday the investment will include the opening of at least four new stores and will create at least 850 jobs. The plan contrasts with other retailers such as Marks & Spencer, who have shut shops due to weak footfall and rising costs, while a shift to online shopping, accelerated …

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