The Irish fast-fashion chain Primark strengthened its foothold in Spain in the 2024 financial year, reporting turnover of €1.885 billion, according to the annual accounts filed by Primark Tiendas SL with the Mercantile Register. This marked a 3.7% increase over the previous financial year and set a record high in the country. However, it was the slowest growth since the pandemic, signaling a deceleration compared with previous years, according to the business daily Cinco Días.

In terms of net profit, the Spanish subsidiary closed the year with earnings of €40.3 million, a 4% increase from the previous year, despite a 9% decline in operating profit, primarily due to higher payments linked to the franchise agreement with its parent company in Ireland.

Most revenue came from in-store sale

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