Primark bosses have promised customers that the fashion retailer will not increase prices, despite seeing costs jump due to Brexit.
John Bason, finance director at the fashion chain's owner Associated British Foods, said the company will take a hit to profits rather than pass price increases onto its shoppers.
"Consumers can comfortably expect no price increases. We are managing the decline in the pound and we accept it will affect margin and take that on board ourselves," he told PA.
The firm's finance boss said Primark has a "history" of keeping prices low and will continue to shield its customers while it can.
It said that the recent collapse in the value of the pound due to Brexit uncertainty, alongside the strong dollar, will "increase the cost of goods for next year".
But because two thirds of its profit is earned outside the UK, the whole group actually expects to gain £10 million through the weaker pound.
Everything you need to know about Primark
The company said on Monday that profits for the year to September 14 are expected to be in line with expectations, as "strong performances" for Primark and its grocery arm offset a decline in its sugar business.
Full-year sales at Primark are expected to increase by 4% compared to the previous year, driven by 14 new store openings.
