Feb 27, 2017
Primark still in fashion for UK shoppers
Associated British Foods said it opened 16 new outlets for the discount fashion chain in the UK, Europe and the US last year. There were no signs UK consumers were reducing their spending, AB Foods said. Finance director John Bason said: "The consumer in the UK has got more disposable income this year than they had a year ago - fact." AB Foods said Primark in the UK was performing well and expected like-for-like sales to be up 2% for the six-month period, but be flat for the business as a whole. The company warned the weak pound could squeeze margins at Primark, which accounts for about half its profits.
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