Primark and Asos Report Financial Growth Amid Strategic Shifts

Primark's expansion and Asos's operational improvements contribute to financial gains, despite challenges from UK tax increases and global supply chain issues.

Primark's revenue grew 6% to £9.45 billion, with strong performance in the US and European markets, while operating profit rose 14% to £511 million.
Associated British Foods, Primark's parent company, announced plans to invest more outside the UK due to tax increases impacting business costs.
Asos reported progress on its profitability goals, reducing inventory and achieving a 24% increase in new product sales, despite a widened pre-tax loss.
AB Foods' overall profits rose 33% to £1.96 billion, with Primark contributing significantly through its strong retail performance.
Primark's future growth is bolstered by new store openings in Europe and the US, while Asos plans to enhance its product mix and launch new initiatives.