Primark owner Associated British Foods (AB Foods) has cheered record festive sales at the low-cost fashion chain, but warned that sugar revenues would suffer from plunging prices. Primark owner Associated British Foods (AB Foods) has cheered record festive sales at the low-cost fashion chain, but warned that sugar revenues would suffer from plunging prices. The fashion retailer, which bolstered its footprint to 350 stores after launching five new shops over the period, also enjoyed “good trading” in the five weeks leading up to Christmas. Growth was underpinned by the robust UK market and an increase in retail space, helping the chain to shrug off unseasonably warm weather in October which pegged back European sales. It added that like-for-like sales were “strong” as it snapped up a greater share of the market.

Source: Irish Independent January 18, 2018 07:52 UTC