ABF lowers Primark's 2025 sales growth forecast due to UK spending drop and milder weather.
Associated British Foods (ABF) has lowered its sales growth forecast for Primark to "low single-digit" for 2025 due to weaker UK consumer spending and milder weather. Despite a 2% rise in Primark's overall sales, UK and Ireland sales fell by 4% with a like-for-like drop of 6%. ABF's grocery division saw higher demand for Twinings and Ovaltine, while the sugar division declined due to falling European sugar prices. The company's total sales across all divisions decreased by 2.2% to £6.73 billion.
2 months ago
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