AB Foods news and archive

Primark operating profit falls 12 percent as retailer prepares for demerger

UK retail and food conglomerate Associated British Foods (ABF) has reported its annual financial results for the 52 weeks ended September 12, 2026, revealing a 12 percent decline in adjusted operating profit at constant currency for its retail division Primark to 1.01 billion pounds (1.35 billion dollars). The fast fashion giant generated...

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Business

AB Foods considers separating Primark and food business

British conglomerate AB Foods is considering separating its textile discounter Primark and its food business as part of a corporate restructuring. “Within ABF, the company has two great business divisions,” said chief executive George Weston, the grandson of the company's founder, at the presentation of annual figures on Tuesday. He noted that...

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Retail

Primark profits under pressure due to weak pound and high inflation

Primark has seen an increase in foot traffic as its store visits returned to pre-pandemic levels, resulting in a 19 percent sales boost. However, despite this growth, the company's profits are under pressure due to a weak sterling and high inflation. Shares of Primark's parent company, AB Foods, fell 3.6 percent on Tuesday as shoppers prioritise...

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Business

Primark takes 284 million pound hit from excess stock

Primark parent company AB Foods has shed more light on the impact the Covid-19 pandemic has had on the fast-fashion retailer, revealing that it has taken a 284 million pound hit from stock it can no longer sell due to store closures. For the 24 weeks to February 29, Primark’s revenue increased 4 percent to 3.71 billion pounds, but the 376-strong...