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AB Foods Reports Lower Primark Sales Ahead of Division Split
The company recorded a drop in clothing sales for the first half of its fiscal year. It also confirmed plans to separate its fashion and grocery operations into two listed companies.
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AB Foods recorded a 1 percent decline in like-for-like sales at its Primark clothing chain for the 24 weeks ended 1 March 2025. The company attributed the fall to weaker demand in its UK and Irish stores. Primark sales in continental Europe rose during the same period, offsetting some of the weakness in its home markets. Overall group revenue increased 3 percent to £9.9 billion.
The company confirmed it will split its Primark clothing business from its grocery and ingredients divisions. The separation is expected to be completed by the end of 2026. Officials said each new listed entity will have its own board and management structure. The move follows a strategic review announced in 2024. No named executives or spokespeople were identified in the company's statement.
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