Discount fashion brand Penneys say they have no plans to increase their prices before the autumn of next year.
The popular shop, which has a major store in Letterkenny, said that as customers tighten their belts, it wants to make sure they still see the brand as a cheap alternative to other high street retailers.
As a result the business will not impose any price rises on its ranges until next summer, apart from those it has already implemented and planned.
Chief executive George Weston said: “Primark has faced significant input cost inflation and sharply moving currency exchange rates.
“We have decided to hold prices for the new financial year at the levels already implemented and planned, and to stand by our customers, rather than set pricing against these highly volatile input costs and exchange rates.”
The business said the decision is “in the best interests of Primark”, which will support its “everyday affordability and price leadership” and help it grow market share.
Mr Weston added: “Sales, margin and profits at Primark increased significantly as more normal customer behaviour resumed after the pandemic.
“Significant progress was made in building out Primark’s digital capability, which will be a key element in the future development of Primark.”
The business is currently trialling click-and-collect in 25 shops.
The business said revenue jumped by more than a fifth to £17bn in the year to September 17, as pre-tax profit increased by nearly half to £1.1bn.
