Primark Lowers Sales Forecasts Following UK Decline

The retailer cites weak consumer confidence and unseasonably mild weather for its first UK sales drop since the pandemic.

Primark's UK and Ireland like-for-like sales fell 6% in the final quarter of 2024, with seasonal womenswear categories such as coats and knitwear particularly impacted.
The decline is attributed to cautious consumer sentiment and mild autumn weather, which reduced demand for seasonal clothing.
Parent company Associated British Foods (ABF) revised Primark's annual sales growth forecast to low single digits, down from a previously expected 5%.
While UK and Ireland sales dropped, Primark saw growth in the US (17%) and mainland Europe, including Spain and Portugal (9%), and France and Italy (5%).
ABF's overall revenue for the period dropped 2.2%, with challenges in its grocery and sugar divisions compounding the retail struggles.