ASSOCIATED BRITISH FOODS news and archive

Primark interim CEO takes up position permanently

Eoin Tonge, the interim chief executive officer of budget retail giant Primark, has been appointed to the helm position permanently, confirming media speculation that had been circulating last week. The news was confirmed by the retailer’s parent company, Associated British Foods (ABF), which said Tonge would be taking up the role with immediate...

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Primark confirmes 2.7 percent like-for-like sales decline in Christmas quarter

Associated British Foods (ABF) today released its finalized revenue report for the 16-week period ending January 3, 2026, confirming that its retail powerhouse, Primark, performed in alignment with the cautionary estimates issued on January 8, 2026. Like-for-like sales at Primark clothing business fell 2.7 percent during the Christmas quarter....

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ABF trading update: Primark's UK growth contrasts with European decline

Associated British Foods plc (ABF) today issued a trading update for the 16 weeks ending January 3, 2026, revealing a complex performance across its global operations. While the Group continues to navigate a difficult consumer environment, chief executive George Weston highlighted a stark contrast between the company’s resilient UK operations...

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Primark sales growth slows, impacting ABF stock

Associated British Foods (ABF) has published a trading update for the second half of its financial year, which concludes on September 13, 2025. Following the company's cautious outlook, its shares experienced a sharp decline in London trading. According to The Wall Street Journal, the stock plunged by as much as 12 percent—to its lowest price in...

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Primark H1 sales marginally grow as store roll out continues, offset by weaker UK market

Sales for Primark saw impact from cautious consumer sentiment in the UK for the 24 weeks to March 1, yet in other regions “good underlying growth” was largely reported by the budget retailer’s parent company, Associated British Foods (ABF). Central and Eastern Europe welcomed the highest growth in sales at 21 percent, as the company continued to...

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Primark CEO Paul Marchant steps down after probe into behaviour

Associated British Foods (ABF) has announced the immediate departure of Paul Marchant, chief executive of fashion chain Primark, following an investigation into allegations of inappropriate behaviour towards a woman in a social setting. Marchant acknowledged his error in judgment and admitted his actions fell short of ABF's expected standards....

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Robust retail expansion drives sales and profit growth at Primark

Primark’s revenue growth in 2024 was 6 percent to 9.4 billion pounds with like-for-like sales growing 1.2 percent. The company reported 51 percent growth in adjusted operating profit to 1.1 billion pounds, with margin recovery to 11.7 percent, up from 8.2 percent in 2023. For 2025, Primark is targeting mid-single digit sales growth as the...

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ABF says "unfavourable" UK weather to impact Primark's H2

Associated British Foods (ABF), parent company of Primark, expects revenue growth in the second half to be around 4 percent, driven by a strong sales contribution from the continued store expansion programme. Like‐for‐like sales are expected to decrease by around 0.5 percent, with growth of 0.2 percent in the third quarter and a projected...

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AB Foods-owned Primark posts increased profit margins

Primark sales were up 7.5 percent for the 24 weeks to March 2, 2024 marked by a slow start for many cold weather categories due to unseasonal warm weather, followed by strong Christmas trading with seasonal ranges selling through well. However, the company, part of the diversified Associated British Foods (ABF), said in a release that adjusted...

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Strategic price increases drive Primark's growth

Primark's sales growth in FY23, posted by owner Associated British Food this week, highlights strategic measures that propelled the clothing retailer's success. Like-for-like sales surged by 9 percent, generating 9 billion pounds in revenue. Adjusted operating profit, slightly lower at 735 million pounds with an 8.2 percent margin, reflects...

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Primark records strong annual sales growth

Primark revenues rose strongly during the financial year to September 16, 2023, up 15 percent to 9 billion pounds reflecting a sales increase across its core markets. The company, part of the Associated British Foods plc, said, the performance was driven by carefully selected price increases taken to partially offset high and volatile input cost...

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Primark sales grow by 13 percent in Q3

In the third quarter, Primark, part of the diversified Associated British Foods, grew sales by 13 percent, with like-for-like sales growth of 7 percent, supported by higher average selling prices. Like-for-like sales growth for the year to date is 9 percent, while like- for-like sales growth in the quarter was 6 percent in the UK and 7 percent...