Primark Sales Boost Outlook for Parent Company Despite Inflation

• Associated British Foods raised its profit outlook for 2022/23 due to Primark's 13% rise in sales.
• Primark's sales growth was driven by seasonal clothing, health and beauty products, and higher prices.
• AB Foods' grocery unit also saw a 13% rise in sales from brands like Twinings, Jordans, and Ovaltine.
• Consumers in Europe continue spending despite high costs of living and inflation.
• Primark's UK sales in June were even stronger than the 13% growth seen in the previous quarter.

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