SME Chamber President meets MDB Officials
22 April 2024
Malta Chamber of SMEs President Mr Paul Abela met MDB Chairman Leo Brincat and CEO...
Primark reports ‘pre-COVID’ shopper numbers
21 April 2021
Throughout the Covid-19 Pandemic, businesses worldwide have issued several reports on how these businesses are surviving during such uncertain times of restrictions and national lockdowns. The recent report that has captivated the business world is the recent report issued by the Low-cost giant retailer – Primark.
The retail giant Primark reported that the number of people who have physically visited the retail stores has skyrocketed after the recent removal of several restrictions imposed by the British Government to reduce the spread of Covid-19.
Primark stated in its report that its stores had declared record sales after more than three months of lockdown. The company also stated that it had made no concessions towards shifting its business towards an online platform but decided to remain on lockdown and withstand the impact. For Primark, withstanding the impact meant that the company had to lose around €1.26 Billion in lost sales; however, its recent gains have given the company rejuvenating hopes that it is back on the right track after recent British lockdowns.
With Malta’s non-essential shops and services due to reopen following Monday, 26th April, after almost two months of shutdown, Maltese businesses are hopeful that this ‘Primark’ effect will also happen for their business as reports from Maltese businesses are stating that Government aid during this pandemic barely covered certain businesses’ expenditures, with businesses also reporting that they had to let go of several employees in order to remain in business.
Therefore Maltese businesses are currently hoping that when they reopen, their business will once again be able to get on the right track and make ends-meat again.
