AB Foods to Reopen Most Primark Stores This Month, Encouraged by Early Trading
By Matteo Castia
Associated British Foods PLC said Monday that it is reopening
most stores of its clothing business Primark this month as
coronavirus-related lockdowns ease.
The British conglomerate said it expects to have reopened 74% of
Primark stores by June 15.
To date, 30% of Primark stores have been already reopened, with
encouraging early trading indicators, the company said,
"Consumer demand has been strong for children's, leisure and
night wear, along with summer products such as shorts and t-shirts,
reflecting good weather in markets where we are trading," AB Foods
AB Foods also said weak trading in its sugar division offset
above-expectations operating profit from the grocery sector,
resulting in an operating profit for the food business as a whole
in line with previous guidance.
Write to Matteo Castia at email@example.com
(END) Dow Jones Newswires
June 01, 2020 02:34 ET (06:34 GMT)
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