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This Irish Retailer That Sells Dirt Cheap Clothing Is Coming to America to Put Sears Out of Business

  • Dublin-based fast-fashion, discount retailer Primark is gaining momentum in the U.S. and appears to be sucking the life from the dying Sears Holdings Corp. (SHLD) .

    In 2014, Sears announced a deal with the U.K. equivalent to Hennes & Maurtiz (HNNMY) and Forever 21 to lease a total of 520,000 square feet of space to Primark. The discount retailer originally got seven standalone stores out of the deal, which are all mostly located on what used to be the top level of a Sears mall-based store.

    Primark first opened its doors in September 2015 in Pennsylvania, but Primark's presence in the U.S. is slowly growing. In June, Associated British Foods (ASBFY) , the retailer's parent company, opened its eighth U.S. Primark store, in Massachusetts, again after leasing space from Sears.

    Barclays said in a note on Thursday, July 6, that Primark is planning for more store openings in the U.S. in the second half of this year. Primark has more than 290 stores globally in countries including Germany, Belgium and Italy.

    A post shared by Molly Genovese��...

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