Reported about 12 hours ago
Primark's owner, Associated British Foods (ABF), experienced a significant drop in share prices following a 6% decline in like-for-like sales in the UK and Ireland. The company attributed this decline to reduced consumer confidence amidst fears about the impact of tariffs from the Trump administration, which may lead to a recession in several countries. Despite slight improvements in sales in recent days due to warmer weather, the overall trend remains negative, and ABF's revenues have also dipped due to challenges in its sugar division.
Source: YAHOO