Associated British Foods (ABF) shares fell over 9% as weak Primark sales and a potential £170 million sugar division loss overshadowed Primark's new home delivery plans.
Associated British Foods (ABF) shares fell over 9% after its latest trading update showed another weak quarter for Primark in continental Europe, with like-for-like sales expected to decline 3% in the fourth quarter. The group's sugar division faces a sharply deteriorating outlook, with an adjusted operating loss expected towards the upper end of £25 million to £60 million this year, potentially worsening to between £70 million and £170 million in 2027. Amidst this, Primark confirmed plans to offer home delivery in Great Britain, acquiring Debenhams Group's Sheffield fulfillment facility for £90 million, though no launch date has been given.
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