Dec 10, 2021
ABF says Primark trading ahead of forecasts
Recent trading at Primark has beaten expectations, owner AB Foods said, with the retail chain delivering improved like-for-like sales from summer levels. AB Foods' other divisions of grocery, sugar, ingredients and agriculture have matched expectations since the start of the new financial year in September in spite of freight problems and rising costs, the company said ahead of its annual general meeting. "Looking ahead we currently expect Primark sales to be significantly better than sales in the comparable period in the last financial year, from December 2020 to April 2021, when the estate was largely closed." Chris Fraser, Sirius's longstanding CEO, will be replaced by Anglo executive Tom McCulley, the company said. In a separate statement ahead of a strategy briefing for investors, Anglo said it expected an improved performance in 2022 and targeted 35 per cent growth over the next decade.
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