What: Primark expects higher profits thanks to the Barbie T-shirt and price increases.

Why it is important: The optimistic outlook on profits gives insights into the company’s health and the impact of films in the fashion industry.

Primark's like-for-like sales in the UK increased by 7% despite heavy rainfall, with flagship stores benefiting from the return of tourists and day trippers to big cities. The company announced 7% price rises for the summer, with further increases expected in the autumn and winter. Primark's full-year sales are forecasted to be 15% ahead of last year, with the UK contributing to 11% growth and Europe 18%. Makeup and moisturizers are also selling well for the clothing chain. Primark's UK trial of click-and-collect services has been extended to include womenswear. The group's profit margins are rising due to eased costs for materials and freight, and Primark has implemented selective price increases while reducing prices on certain kids' clothing items.

Primark predicts bigger profits after strong Barbie T-shirt sales and price rises