Four stores, two stories

29 October 2008 By Rachel Sanderson

Some retailers seem to be able to do well in adversity. Take Spain s Inditex, owner of Zara, or UK discount clothes merchant Primark, which is still adding to core sales. Their gains will make tough times tougher for the less nimble such as M&S or El Cortes Ingles.

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Primark, the discount clothes merchant owned by ABB Foods, reported on November 4 its interim core sales rose 4%, total sales rose 21%.

Marks and Spencer, the Londonlisted clothes, food and housewares retailer, said its interim profit before tax fell 34% on an already reported 5.7% in core sales.

The head of the southern Spain franchise for El Cortes Ingles, the leading Spanish department store group, said in October that group sales this year are going to fall for the first time in its history.

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