25th October 2018
Amazon Q3 retail sales “surprisingly weak”
With an opening programme in its last quarter that included its second New York City store, Primark today announced a new record of £843 millon ($1.14 billion) in profit for a UK clothing retailer.
As our Primark 2018 summary demonstrates, one major aspect of Primark’s extraordinary success story is that it makes money because it doesn’t sell online – not despite it. But it’s not unique: Ross and TJX in the US scarcely sell anything online either – and they’re the most profitable clothes retailers there, too.
At the risk of boring our readers: however they use the internet, retailers need to rely on their own customer focus, recapture their self-confidence, and rediscover their native frugality if they want to avoid being the next front page horror story.