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Associated British Foods trimmed the annual sales guidance for its clothing business, Primark, after the division’s sales declined in the UK and Ireland during the Christmas quarter. In an ...

Associated British Foods downgraded the annual sales guidance for its Primark budget clothing business after disappointing results in the Christmas quarter in its main UK and Ireland market.

One of the primary concerns is the slowing growth in disposable income among UK consumers, particularly affecting lower-income households, which form a significant part of Primark’s customer base.