Primark committed to US expansion despite tariff uncertainty, says boss

James Davey

Tue, Apr 29, 2025, 1:18 AM 1 min read

By James Davey

LONDON (Reuters) -Associated British Foods' Primark covering retail concern is committed to expanding successful the United States contempt President Donald Trump's erratic attack to tariffs, its brag said connected Tuesday.

Primark's U.S. concern accounts for astir 5% of the unit's full sales. It presently trades from 29 stores successful the U.S. and has signed an further 18 leases.

Trump's watercourse of tariff announcements, roll-backs and exemptions has near immoderate firms wary of committing to expansion.

However, AB Foods main enforcement George Weston said Primark was "absolutely" committed to a program to person 60 U.S. stores by 2026 and remains assured it tin win successful a marketplace that has been a graveyard for immoderate of Britain's biggest retailers, including Marks & Spencer and Tesco.

Weston told Reuters successful an interrogation that Primark would instrumentality the "(tariff) hits wherever we person to instrumentality them and earlier we instrumentality much substantive actions hold to spot wherever we truly are."

But helium said Primark could payment from Trump's determination to extremity the "de minimis" work exemption, which allows shipments worthy little than $800 duty-free introduction to the U.S. and has helped companies similar Shein support prices low.

"De minimis imports successful the U.S. are very, precise large, they proviso a batch of Americans who don't cognize astir Primark yet but are looking for value," helium said.

"With prices going up from this portion of the trade, I wonderment if immoderate Americans mightiness commencement going backmost to buying centres to find worth there."

Weston was speaking aft AB Foods reported archetypal fractional results.

(Reporting by James Davey, Editing by Paul Sandle)