Primark's ambitious plan to open 530 new stores sparks debate

In an ambitious expansion move, Primark, known as Penneys in Ireland, opened four new stores globally in a single day, demonstrating its commitment to physical retail despite the trend toward online shopping. The major investment of €45 million has resulted in the creation of 580 jobs across new locations in Glasgow, Tours in France, Madrid, and New York. This expansion follows the company's strategic growth in the US, where they now have 28 stores, having opened their first American location in 2015. The New York store, which marked a significant investment of €17 million, is part of Primark’s continuous effort to increase their footprint in the competitive retail market. Furthermore, the retailer has plans to significantly broaden its reach and expectations this year include a 30% increase in American revenues as the company adapts to diverse market dynamics. While the expansion appears promising, not all regions have yielded positive results, leading the company to reassess certain markets. The total number of Primark outlets has risen to 457 across 17 countries, setting the stage for a target of 530 stores by 2026, showing a clear dedication to brick-and-mortar retailing.