Budget retailer Primark could be planning a huge sale to give customers more discount than before once its stores reopen.
Primark, along with other high street retailers was ordered to close all of its stores at the start of lockdown which meant the retailer was left with plenty of unsold stock.
It is estimated that there is around as much as £1.5billion worth of unsold stock in the budget retailer's warehouses at the moment, reports MirrorOnline.
Sophie Lund-Yates, Hargreaves Lansdown analyst, said: "When Primark was ordered to shut its doors mountains of inventory was already on its way, ready to replenish stores which are in hibernation."
"For consumers this could mean bumper sales when shops reopen, as sales stickers are one of the quickest ways to shift excess items."
Yesterday, it was announced 68,000 members of Primark staff across Europe have been furloughed during the coronavirus outbreak.
Boss of Associated British Foods, who owns Primark, George Weston also gave an update about the future of its stores stating they would not reopen until "the disease is under control".
Primark has seen sales plunge from £650 million a month to zero as coronavirus has caused the 376-strong chain to shut completely, with no online business to fall back on.
George Weston said: “Much as I would love to be allowed to reopen Primark stores across the UK, continental Europe and the USA soon, because lockdown has so harmed our business and our supply chains, I know that we must not do so until we have suppressed this disease.
“When we are allowed to reopen we must make our Primark stores safe for our staff and our customers, even if that means ensuring there are fewer people shopping at any one time and so accepting lower sales at least until the remaining risk is minimal.
“In time we can rebuild the profits. We can’t replace the people we lose.”
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