Despite good sales as UK reopens, Primark profit is set to slump
The fashion chain is ‘getting back to business’ but owner AB Foods expects full-year profit to slump by about two-thirds
02 July 2020 - 18:33
London — Trading in British fashion chain Primark’s reopened stores has been encouraging but the prolonged coronavirus lockdown means the retailer’s full-year profit is likely to slump by about two-thirds, owner Associated British (AB) Foods has said.
All 375 Primark stores were shuttered in March as the pandemic spread. As governments eased lockdown restrictions the stores reopened, including all 153 stores in England, on June 15...
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