Associated British Foods, a multinational food processing and clothing retailing company, has announced that trading for fourth quarter (Q4) in both its food business and Primark exceeded the expectations. Cumulative sales since reopening to the year-end are expected to be £2 billion and adjusted operating profit is expected to be in £300-350 million range.

 

Associated British Foods, a multinational food processing and clothing retailing company, has announced that trading for fourth quarter (Q4) in both its food business and Primark exceeded the expectations. Cumulative sales since reopening to the year-end are expected to be £2 billion and adjusted operating profit is expected to be in £300-350 million range.#

In July Primark announced the its UK recycling programme, inviting customers to donate clothes, textiles, footwear and bags from any brand. All Primark stores reopened in May, June and July. Since reopening company has traded strongly, attracting customers with our value-for-money offering and a welcoming and safe store environment. Cumulative sales since reopening to the year-end are expected to be £2bn and adjusted operating profit is expected to be at least at the top end of the previously advised £300-350 million range. 

 

Associated British Foods, a multinational food processing and clothing retailing company, has announced that trading for fourth quarter (Q4) in both its food business and Primark exceeded the expectations. Cumulative sales since reopening to the year-end are expected to be £2 billion and adjusted operating profit is expected to be in £300-350 million range.#

Company reported that the total customer spend on clothing, footwear and accessories in its markets has been impacted by Covid-19. It has been recovering from a low point in April and the rate accelerated with the reopening of stores.

 

Associated British Foods, a multinational food processing and clothing retailing company, has announced that trading for fourth quarter (Q4) in both its food business and Primark exceeded the expectations. Cumulative sales since reopening to the year-end are expected to be £2 billion and adjusted operating profit is expected to be in £300-350 million range.#

In the UK sales since reopening are expected to be 12 per cent lower and excluding the four large UK destination city centre stores the decline is 5 per cent. While sales in Europe are expected to be 17 per cent lower on a like-for-like basis, reflecting increased public health restrictions, particularly in Spain and Portugal. Sales in the US are expected to be 9 per cent lower and are 2 per cent ahead excluding our Boston destination city centre store.