Primark is accelerating its US store openings and ramping up marketing, betting that President Donald Trump‘s move to scrap a duty exemption on e-commerce parcels will drive budget-conscious shoppers away from online rivals and back to stores.
People walk into a Primark clothing store at a mall in Garden City, New York, U.S., October 15, 2025 – REUTERS/ Shannon Stapleton
The US administration in May ended “de minimis” duty-free treatment of goods under $800 ordered online from China, hurting online fast-fashion platforms like Shein and Temu that ship directly from Chinese factories to shoppers’ doorsteps.
The move forced Shein and Temu to raise US prices and tilted the playing field in favour of retailers like Primark that sell in stores and import in bulk to US warehouses. While Primark’s own prices have also risen due to Trump’s broader tariff hikes, it is now more competitive versus online rivals that face duties on their products for the first time.
Primark, the flagship of the London-listed Associated British Foods conglomerate, sells trendy, low-priced clothing through 475 stores in 18 countries, generating nearly 10 billion pounds ($13.4 billion) in annual sales and more than 1 billion pounds in profit – all without offering home delivery.
Primark says shipping to homes does not make financial sense given its low prices and the high fulfilment costs, though shoppers can view its ranges online and Click & Collect is available in Britain. Having built a loyal following in Europe, Primark sees an opportunity to crack the US market, and believes its budget focus can help it succeed where less-differentiated UK retailers like Tesco, Marks & Spencer, and Topshop failed. The US currently accounts for about 5% of Primark’s global sales.
Since entering the market in 2015 with a Boston store, it now operates 33 locations across 13 states, backed by distribution hubs in Pennsylvania and Florida.
“We think we’ve got a very relevant offer there. We just know that not many consumers know us,” AB Foods CEO George Weston told Reuters last month. “So hence the logical step of increasing the communications weight.”
Primark’s digital ad spend surged by an average of 175% in April to September, compared with March, and has been rising every month, data from market research firm Sensor Tower shows. And visits to its US website jumped 67.9% year-on-year in January to September, according to analytics firm Semrush.
Meanwhile, Shein slashed its US ad spending in the second quarter, before a slight recovery in July-September, while Temu’s spend plunged 90% and 70% in the second and third quarters, respectively, Sensor Tower data showed.
Helped by new store openings and the move to increase awareness of its brand, Primark’s US sales rose 23% year-on-year in the second half of its financial year ending September 13, up from 17% in the first half.
“The winds are blowing towards stores, even though they are still growing slower than online,” said Aaron Cheris, a Bain consultant in San Francisco. Lower-income Americans hit by inflation are focusing on essentials, he said.
“If I’m a value-focused retailer whose assortment is focused on basics, I think I feel better than if I’m a mid-priced retailer focused on stuff to go out.”
Ashley Pottinger, 23, said she learned about Primark through a friend. She said she visits its store in Newport Centre mall in Jersey City, New Jersey, a few times a month to buy gear including $20 sweaters, $9 scarves and $5 perfumes.
While some companies have paused US expansion amid tariff uncertainty, Primark is pressing ahead. It opened six stores in its 2024/25 fiscal year – including first-time entries in Texas, in McAllen, and Tennessee, in Memphis – and plans to grow its network to 60 stores by September 2026.
It has signed 18 additional leases, including a first outlet in Minnesota and a flagship in Herald Square, Manhattan. “We’ve got the biggest programme of store openings in 2026 and the second biggest was 2025, so I think you can see the direction of travel,” said Weston.
Rene Federico, Primark’s US head of marketing, said the Manhattan store would be a major milestone. “That will do a lot for our brand in terms of establishing us as a player in the US,” she told the ‘Retail Unwrapped’ podcast.
AB Foods has said it sees “huge potential” for Primark in the United States, particularly in untapped states such as California. Cheris said newcomers fare better when they cluster stores regionally rather than spread thinly nationwide. Some analysts believe Primark’s mix of value, fashion and range means it could eventually build a US business as large as its European one, challenging the likes of Old Navy, TJ Maxx, Target and Walmart on their own turf, as well as Sweden’s H&M and Spain’s Inditex.
“There are many more people out there that love us, they just don’t know it yet,” added Federico.
Over the first nine months of the year, the French leather industry recorded a 3% decline in exports to 13.7 billion euros, according to the Economic Observatory of Alliance France Cuir, which cites a drop in orders from Asia and the United States.
Shutterstock
The Observatory’s economic report notes a 7% fall in exports to Asia. This downturn affected China and Hong Kong (-5%), Japan (-8%), Singapore (-27%) and South Korea (-7%). Exports to the United States also contracted by 2%, while European demand strengthened by 0.7%.
By product, exports of raw hides and skins fell by 2%, and those from the tanning and dressing sector by 1%. The decline came to 3% in both the footwear and leather goods markets. However, the leather goods sector was the only one to end the period with growth in cumulative revenue across its companies (+3%).
Imports remained stable over the period, at 10.4 billion euros. The Observatory notes a 7% drop in orders placed in Europe, while supplies from Asia rose by 7%. This situation benefited Vietnam (+13%), Indonesia (+6%), India (+6%), Cambodia (+22%) and, to a lesser extent, China (+3%).
This shift in sourcing from Europe to Asia is pushing down the average prices recorded by customs, with declines of 3% for shoes and 13% for handbags.
By sector, increases in imports were seen in footwear (+2%) and in tanning and dressing (+4%). Imports of raw hides and skins fell by 6%, as did imports of leather goods. In this category, handbag production, all materials combined, is estimated to have fallen by 2.7%.
Walmart CEO Doug McMillon will retire next year after more than a decade at the helm, capping a period when he reshaped the big-box retailer into a technology-driven powerhouse whose shares have consistently outperformed the broader market.
John Furner – Reuters
McMillon, 59, will be replaced by U.S. division chief CEO John Furner, 51, a veteran with three decades at the company, Walmart said.
Walmart’s shares cut earlier losses to trade down about 0.6%. McMillon’s decision to step down came sooner than anticipated, though his tenure at the time of his expected Jan. 31 retirement makes him one of the longest-serving CEOs in company history.
“Given that Mr. McMillon was unequivocally Walmart’s best CEO since the company’s founder in Sam Walton … the announcement will likely cause some anxiety by shareholders, particularly since the change was a bit earlier-than-anticipated,” said Chuck Grom, an analyst with Gordon Haskett.
Walmart said in a statement McMillon’s retirement was a planned transition.
McMillon took over from Mike Duke in February 2014, when the company was playing catch-up to online sales giant Amazon.com that was quickly capturing a lion’s share of the booming consumer demand for e-commerce.
McMillon tapped into the company’s vast store footprint to speed up deliveries, incorporate automation technology at warehouses, and expanded its marketplace and advertising business to boost income.
Since he took the job, Walmart’s value has more than tripled to its current $817 billion as he ramped up e-commerce efforts.
When he took over, the company’s global e-commerce sales had just surpassed $10 billion; in its most recent fiscal year ended in January, that figure had surpassed $120 billion.
“Walmart has performed very well under Doug’s tenure,” said Neil Saunders, Managing Director of Retail at GlobalData.
“It has become a way more influential e-commerce player, has integrated new technologies to improve efficiency, and has pushed into new areas like retail media.”
McMillon will continue as an adviser through Jan. 31, 2027. The Bentonville, Arkansas-based retailer’s stock has risen 323% since he took over, outperforming the S&P 500 index.
McMillon, who joined Walmart in 1984 as an hourly associate, has served in leadership roles at all three Walmart divisions: U.S., International and Sam’s Club. He rose through the ranks to become CEO of Walmart in February 2014, replacing Mike Duke.
Furner has followed a similar career trajectory at the country’s largest private employer, joining as an hourly associate, and also heading Sam’s Club and Walmart U.S. in his three decades at the company. “Furner is taking over one of the most desirable seats in corporate America and, in our view, just needs to continue to execute against the game plan they have already put in place,” said Truist Securities analyst Scot Ciccarelli.
He takes the helm as Walmart starts to adopt artificial intelligence tools that are changing how retailers operate and interact with customers.
Furner was “uniquely capable of leading the company through this next AI-driven transformation,” McMillon said in a statement.’
The list of people who have held Walmart’s top job since its 1962 founding is a short one; Furner will be only the sixth person to lead the company, with each of the previous CEOs lasting six years or more.
“Doug McMillon has been a terrific CEO, leading Walmart’s transformation into an even bigger and stronger retail powerhouse fueled by technology,” said Joseph Feldman, an analyst with Telsey Advisory Group.
“John Furner is the logical choice to be the next CEO. He is a lifer at Walmart who started as an hourly associate in 1993, so he is a good cultural fit.”
The move is the latest in a string of leadership changes sweeping through retail as companies tackle tariff pressures, an uncertain economy and choppy consumer spending. Kohl’s, Kroger, and Target have named new CEOs this year.
Footwear label Autry is set to mark the opening of its new Milan flagship with a cultural moment during Milano Music Week, transforming its San Babila boutique into a hybrid listening bar and club for a one-night event.
Autry marks Milan flagship opening with Music Week installation. – Autry
As an official partner of Milano Music Week, Autry will reveal a mirrored box installation, in Piazza San Babila, which will project a digital countdown for two days, leading up to the event.
Then, at 6 p.m. on November 18, the cube is scheduled to open and reveal sets from an international lineup of DJs. Miami-based duo Miguelle & Tons will headline alongside Italian DJ and producer Silvie Loto. Mosa Klub and Mario Agliata will open and close the night.
The square will transform into an inclusive listening bar and open-air club, where guests will be offered silver-wrapped bites and custom cocktails, in line with Autry’s deep and intrinsic links with music and culture.
“Milan embodies the spirit of design and creativity that defines Autry’s DNA. As a partner to Milano Music Week, Autry’s one night only celebrates the city’s energy, our new flagship store, as well as a shared rhythm, one that connects people through emotion, culture, and style, true to the brand’s values of creativity and community,” said Roberta Benaglia, CEO of Style Capital and executive chairwoman of Autry.
Autry’s San Babila flagship opened in October and reflects the brand’s cosmopolitan identity and enduring ties to sport and style.
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