Associated British Foods said fourth quarter sales at its Primark fashion business were lower than expected, with shopper numbers hurt by public health measures in its major markets to control the spread of COVID-19 and the Delta variant in particular.
said on Monday that Primark's like-for-like sales in the third quarter were 3% ahead of the comparable period two years ago reflecting very strong trading in the UK and those European regions where stores had reopened.
The group said Primark had seen a significant improvement in trading as the quarter progressed, from a weekly decline in like-for-like sales of 24% at the start of the period to a decline of 10% in recent weeks. It forecast full-year adjusted operating profit stated before repayment of job retention monies, above last year's 1 billion pounds , excluding the benefit of a 53rd week this year. It had previously forecast it to be in line with the previous year's outcome.
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