The Primark owner Associated British Foods (ABF) has warned that the latest lockdown will cost the fast fashion retailer almost £1.5 billion of sales. ABF said it expected that 83 per cent of Primark selling space across the UK, Europe and the US should be trading by April 26 but it nevertheless warned of a further £480 million hit to sales in the second half. In January it warned that the lockdown would cost £1 billion of sales in the first half of its financial year. SponsoredUpdating shareholders before announcing interim results in April ABF said that it expected sales across the group to be lower than over the same period last year. The FTSE 100 group, which is controlled by the billionaire

Source: The Times February 25, 2021 09:03 UTC