Tightened belts see Primark sales soar

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Figures released to the City today show sales in the 24 weeks to 1 March increased 25 per cent to £899m, giving Primark a 10 per cent market share.

That leaves it just behind M&S but ahead of George, the Asda clothes brand which is in third place.

Primark, which has 125 stores in the UK, made a profit of £111mfor the period, a result better than the City was expecting.

Analysts say the chain is benefiting from the credit crunch as consumers watch the pennies and hunt for bargains.

Primark clothes are also starting to win plaudits in the fashion world and have even been featured in industry bible Vogue. Experts say the company excels at quickly turning out designs inspired by the latest catwalk shows. A new item of clothing can be in the shops just six weeks after it is designed, a pace few rivals can compete with.

But critics claim it sometimes infringes copyright laws. Monsoon has twice taken legal action against Primark over alleged copying of designs.

The chain's success comes as many retailers struggle. Trade guru Sir Philip Green - who owns Topshop and BHS - said trading conditions are as tough as he has ever known. French Connection, Moss Bros and M&S have all seen sales slump in recent months.